20th Jan 2025 09:09
(Alliance News) - Judges Scientific PLC on Monday said it expects 2024 earnings in line with market expectations after mixed trading in 2024.
The London-based investor in scientific instrument sector said 2024 had been a "difficult" year for the group, with a challenging trading environment resulting in mixed trading.
Headwinds included a large reduction in orders from China, together with a general weakness in order intake and some customers delaying orders and deliveries.
Organic order intake, including a Geotek coring contract, was up 7% versus 2023. Excluding this order, the organic order intake finished up 2.2% versus 2023.
But organic revenue was down 5.8% from 2023, and down 0.7% excluding coring.
Judges Scientific said it remains confident in the long-term growth drivers of the business and expects adjusted earnings per share for 2024 to be in line with current market expectations.
A company compiled consensus put expectations for adjusted EPS in the year to December 31 at 276.8 pence.
The current year is starting more encouragingly, the firm said, with Geotek's coring expedition having commenced and a number of the deferred projects from 2024 now anticipated to contribute to first half earnings.
Shares in Judges Scientific were 1.1% higher at 7,440.00 pence each in London on Monday morning.
By Jeremy Cutler, Alliance News reporter
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