22nd Mar 2016 10:02
LONDON (Alliance News) - Scientific instruments firm Judges Scientific PLC on Tuesday said its pretax profit declined due to one-off costs in 2015, though revenue was pushed higher by the acquisition of Armfield.
Judges said its pretax profit for the year to the end of December was GBP1.3 million, compared to GBP2.4 million a year earlier, mainly due to it booking one-off costs related to the acquisition of Hampshire-based Armfield in January 2015.
Armfield produces equipment and teaching instruments for universities and technical colleges, and research and development systems used in industries including the food and drink and pharmaceutical sectors.
Revenue for Judges increased to GBP56.2 million from GBP40.6 million a year earlier, a 39% rise driven primarily by the addition of Armfield. Organic revenue growth was 4.9%.
Judges said it will pay a second interim dividend of 15.9p and a final dividend of 1.0p, taking its total payout for 2015 up to 25.0p from 22.0p in 2014.
"The group starts the year with a solid order book, a small but exciting new acquisition and a strong financial position, all of which serves to underpin the board's confidence that Judges is well positioned to face the inevitable challenges that 2016 will bring," said Chairman Alex Hambro.
Shares in Judges were up 5.5% to 1,725.00p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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