25th Jul 2024 13:01
(Alliance News) - Judges Scientific PLC on Thursday announced it would miss market expectations following a "subdued" first half.
Judges Scientific is a London-based company focused on acquiring and developing businesses in the scientific instrument sector.
Its shares were down 20% to 9,089.00 pence per share in London on Thursday afternoon.
It reported a 3% decrease in organic revenue in the six months that ended June 30. The firm noted that the region most affected was China/Hong Kong which saw a 9% decrease in revenue.
Judges Scientific said that it expects the decrease in organic revenue in the half to result in earnings per share declining by a fifth for the period.
Additionally, it reported a 4% decrease for the half in organic order intake, with the China/Hong Kong area most affected.
Looking forward, Judges Scientific said it expects progress in the second half of the year with the realisation of some delayed projects.
However, the firm does not expect to deliver an annual performance in line with market expectations. It expects earnings per share to be between 5% to 10% below the 384.6p consensus.
Judges Scientific expects to release its half-year results in September.
By Lydia Doye, Alliance News reporter
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