Judges Scientific (LON:JDG) reported a record financial performance in 2010, largely due to a significant contribution from the group’s latest acquisitions.
The group was upbeat about the current year, reporting a good start to 2011 with a solid order book, a strong balance sheet and the enhancement of its position in electron microscopy with the acquisition of a 51 percent interest in Deben, a Suffolk-based manufacturer of instruments used in electron microscopy.
On the financial side, the group’s pre-tax profits soared 75 percent to a record £2.75 million and revenues rose 42 percent from £11.3 million to an all time high of £16 million, while basic earnings per share jumped from 28 pence in 2009 to 45 pence, also a record for the group.
“Thanks to a strong full-year performance from Quorum, a healthy maiden contribution from Sircal and good progress across its other businesses, the group achieved another record trading result in 2010,” said chairman of Judges Scientific Alex Hambro.
Organic growth excluding the acquisitions was 14 percent.
Sircal Instruments, which was was acquired in March 2010, designs, manufactures and sells rare gas purifiers for use in metals analysis. The business was relocated to the group’s East Grinstead facility, it enjoyed growing sales and a solid profit contribution, said Judges.
The group listed the Sterling's “burgeoning revival” and public sector budget cuts in the developed world as its main challenges in the current year.
Judges Scientific specialises in the design and production of scientific instruments. It is rapidly expanding organically and via the acquisition of “top-quality businesses with established reputations in world-wide markets”.