Judges Scientific operating profits fall

Judges Scientific's revenues rose by 2% to a record £57.3m in the year to the end of December, including 2.5% organic growth but operating profits fell.

Adjusted operating profit fell to £7.1m from £9.3m and statutory operating profit of £1.0m was down from £1.8m.

Organic order intake rose 2.9% compared with 2015 and the organic order book stood at 14.7 weeks at the start of this year compared with 11.4 weeks at the start of 2016.

The group completed a record four acquisitions during the year: CoolLED, Dia-Stron, Fire Instrumentation and Research Equipment and EWB Solutions for £9.0m and had cash balances of £7.9m at the end of 2016 (31 December 2015: £8.5m).

Chairman Alex Hambro said: "Although 2016 was a year of contrasts for Judges with the completion of a record four acquisitions but a disappointing trading performance, Judges commences 2017 with a solid financial position, four new businesses, a strong order book and positive order intake since the start of the year, all of which provides a platform for a year of progress."