Judges Scientific posts record profits and revenues

Judges Scientific reported a 42 per cent rise in 2012 pre-tax profit on Friday on record revenues.

The manufacturer of scientific instruments posted a pre-tax profit of £5.6m, up from £3.9m.

Revenues climbed 34.6% to £28m from the previous year's £20.8m, reflecting organic growth of 7.5% and a strong performance from units Deben UK and Global Digital Systems (GDS).

During the period the company purchased the entire share capital of GDS, which designs, manufactures and sells instruments used to test the physical properties of soil and rocks.

The Deben UK arm also acquired KE Developments, which manufactures accessories for electron microscopes.

Net debt at the end of the year including amounts still owed for acquisitions stood at £1.75m compared to £0.73m in 2011.

The group proposed a final dividend of 10p, up from 6.7p the year before.

"A robust performance throughout the group, including a sizeable first-time contribution from Global Digital Systems, delivered a 42% increase in pre-tax profit and almost £6.0m of EBIT [earnings before interest and tax]," said Chairman Alex Hambro.

"The new year has started well and healthy cash-flow generation together with a £3.0m mid-year equity placing in 2012 leave the group in a strong financial position."

RD