Judges Scientific posts record H1 profits as China recovers

20th Sep 2023 07:34

(Sharecast News) - Judges Scientific on Wednesday posted record interim adjusted earnings on the back of higher order intake and a recovery in China and Hong Kong.

The company, which focuses on buying and developing firms in the scientific instrument sector, said adjusted pre-tax profit rose 33% to £12.8m. Revenue rose more than a third to £61.3m.

"In an improving business environment, the group's operations continued to progress from the difficulties caused by the pandemic and the war in Ukraine with the first half of 2023 establishing new records in organic order intake, organic revenues and organic EBITA contribution," the company said, adding that it was holding full-year guidance.

"Well-documented world tensions are unresolved and breed a tendency to reshore and buy local, a trend that is not ideal for the scientific community which thrives on free exchange and a cosmopolitan atmosphere."

"Furthermore, vast government debt worldwide is aggravated by high interest rates, and those as well as inflation seem to always last longer than promised. Therefore, growth in research spending may be less smooth as a result."

Reporting by Frank Prenesti for Sharecast.com