Instruments maker Judges Scientific has reported record revenues as new acquisition Deben made a significant contribution to income.
The year ended 31st December saw Judges' revenues advance 30% from £16m to £20.8m over 2010. Organic growth came in at 15%.
Profit before tax, exceptional items and minorities, rose by 44% from £2.75m in 2010 to £3.95m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The contribution of the businesses owned on 1st January 2010 grew by 10%.
Basic earnings per share, before exceptional items, rose from 45p to 61p.
The proposed final dividend is 6.7p, raising the full year figure to 10p versus 7.5p in 2010.
Deben, which makes instruments for electron microscopy, was bought in March last year. This year Judges has also gobbled up Global Digital Systems which sells instruments used to test the physical properties of soil and rocks and KE Developments, another electron microscopy business.
Alex Hambro, Chairman of Judges Scientific, said:
"Solid organic growth and a strong maiden contribution from Deben have enabled the group to achieve another set of record results. Deben was purchased out of cash-flow, leaving net debt effectively unaltered at the year-end."
Shares in Judges had gained 4.3% by 11am. Since the start of the year the stock has risen 63.8%.
BS
-
-
Pension withdrawals on the rise, HMRC data reveals
Pension withdrawal data has led to some raising concerns over savers ‘raiding’ their pensions unsustainably.
-
ONS: UK economy recovered from pandemic faster than previously thought
Revisions from the ONS showed the UK economy has grown since the pandemic, while the latest data showed GDP grew in the second quarter of 2023.
