Judges Scientific (JDG)

Judges Scientific JDG Logo

A group engaged in the acquisition and development of a portfolio of scientific instrument businesses, activities are predominantly in or in support of the design and manufacture of scientific instruments.

15-Jan-2018 – 2080p – £127.7m – PER 16.8

Trading Statement For The 12 Months To End December 2017 – A bit of waffle, the key is EPS for the full year will be ahead of current market expectations.

Quite like the overall look of this but not enough to get involved at this level. I’m going to put it on my Watchlist, 1800p.

Subsequently revised Watchlist price, 1900p.

20-Mar-2018 – 2180p – £133.9m – PER 17.2

Preliminary Results For The 12 Months To End December 2017 – Revenues up 24.6% to a record £71.4m (2016: £57.3m), statutory Operating Profit of £5.7m and EPS 65.6p, total Dividend 32p, up16%, Cash of £10.7m, £7.9m last time.

Remains on my Watchlist at 1900p.

23-Jul-2018 – 2420p – £149.7m – PER 17.7

Trading Update For The 6 Months To End June 2018 – Seems to say H1 may be weak but H2 should be strong enough to meet FY expectations.

This was on my Watchlist (1900p) but now I am going Neutral and will keep an eye out for updates.

18-Sep-2018 – 2580p – £157.1m – PER 18.5

Interim Results For The 6 Months To End June 2018 – Revenues up 13% to a record £37.0m (H1 2017: £32.7m) including 5.7% Organic growth, Adjusted PBT up 50% to £6.6m (H1 2017: £4.4m), Adjusted Basic EPS up 52% to 83.4p (H1 2017: 54.8p) and theInterim Dividend is up 20% to of 12.0p. Expecting FY Adjusted PBT and EPS to be ahead of expectations.

Quite interesting and it’s going back on my Watchlist (for more research).

Subsequent note: Further research indicated this is quite over-valued at this price, back to Neutral for now.

21-Nov-2018 – 2170p – £134.4m – PER 13.7

Trading Update For The 12 Months To End December 2018 – Expecting EPS to exceed current market expectations.

I still see this as over valued at present – I remain Neutral but will keep an eye out for upgrades based on this update.

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