21 May 2024
Judges Scientific plc
(the "Group" or "Judges")
AGM Statement
At the Annual General Meeting of Judges Scientific plc, to be held at 12:00 noon today at The Lansdowne Club, 9 Fitzmaurice Place, London W1J 5JD, Alex Hambro, Chairman of the Group, will make the following statement:
"At the time of our Final Results, we stated that we were still envisaging another coring expedition during the course of 2024, however, Geotek had not contracted for this expedition and there was uncertainty regarding its timing and the amount of any related revenue to be recognised in 2024. We can confirm that the next Geotek contract is now in negotiation, and specifies an expedition starting at the very end of 2024, implying no recognisable revenue in the current financial year.
"Trading in the first four months of the year has been subdued relative to strong prior year comparatives. However, H2 looks more promising which would result in a performance that is second half weighted and lead to a full year result in line with market expectations*."
* Current consensus market expectations for the year ended 31 December 2024 are Adjusted profit before tax of £34.0m and Adjusted basic earnings per share of 384.6p.
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For further information please contact:
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| Judges Scientific plc David Cicurel, CEO Brad Ormsby, CFO Tel: +44 (0) 20 3829 6970
| Shore Capital (Nominated Adviser & Joint Broker) Stephane Auton Harry Davies-Ball Tel: +44 (0) 20 7408 4090
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| Liberum (Joint Broker) Edward Mansfield Nikhil Varghese Tel : +44 (0) 20 3100 2222
| Investec Bank plc (Joint Broker) Virginia Bull Carlton Nelson Tel: +44 (0) 207 597 4000 | | |
| Alma (Financial Public Relations) Sam Modlin Rebecca Sanders-Hewett Joe Pederzolli Tel: +44 (0) 20 3405 0205 judges@almastrategic.com
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Notes to editors:
Judges Scientific plc (AIM: JDG), is a group focused on acquiring and developing companies in the scientific instrument sector. The Group now consists of 23 businesses acquired since 2005.
The acquired companies are primarily UK-based with products sold worldwide to a diverse range of markets including: higher education institutions, scientific research facilities, manufacturers and regulatory authorities. The UK is a recognised centre of excellence for scientific instruments. The Group has received five Queen's Awards for innovation and export.
The Group's companies predominantly operate in global niche markets, with long term growth fundamentals and resilient margins.
Judges Scientific maintains a policy of selectively acquiring businesses that generate sustainable profits and cash. Shareholder returns are created through the reduction of debt, organic growth and dividends.
For further information, please visit www.judges.uk.com
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