Judges Scientific Plc (JDG.L), a company focused on scientific instruments businesses, on Wednesday reported a decline in preliminary profit before tax and revenue for the full year.
Alex Hambro, retiring Chairman of Judges Scientific, said: "As previously announced, the Group had a difficult trading year in 2024, driven by the delay of a Geotek coring expedition and general weakness in order intake, particularly in China. M&A activity, however was buoyant, with three acquisitions completed, and it was pleasing to see our cash conversion restored to normal levels."
For the 12-month period to December 31, 2024, the company recorded a pre-tax income of 13 million pounds, lower than 13.4 million pounds of last year. Excluding items, pre-tax earnings were 24.3 million pounds as against the prior year's 31.7 million pounds.
Net profit, however, improved to 10.4 million pounds or 154.2 pence per share from 9.5 million pounds or 143.5 pence per share in 2023. Excluding items, profit stood at 18.8 million pounds or 278.7 pence per share, lesser than 24.4 million pounds or 368.5 pence per share in the previous year.
Operating profit slipped to 16.7 million pounds from 21.6 million pounds a year ago.
Revenue was 133.6 million pounds, down from the previous year's 136.1 million pounds.
For the full-year 2024, the Board will pay a final dividend of 74.8 pence per share, resulting in a total dividend of 104.5 pence per share for 2024, which is higher than last year's 95 pence per share. The final dividend will be paid on July 11 to shareholders on the register as of June 13.
Looking ahead, for the full-year 2025, the company expects its performance to be in line with the market expectations.
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