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Judges Scientific guided for full year results ahead of expectations as firat half revenue increased 9% to a record £40.2m (H1 2018: £37m), with an interim dividend of 15.0p (H1 2018: 12.0p), an increase of 25%.
Sales were strong in North America (up 33%), with China/Hong Kong showing improvement (up 5%), however the Rest of the World receded 8%.
Sales were also boosted by efforts throughout the group to reduce customer delivery lead times. As a consequence, sales in the first half accelerated ahead of order intake, resulting in a small reduction of the order book.
Commenting on the results, The Hon. Alexander Hambro, Chairman, said:
'We do not expect a second half weighting similar to recent years, mostly in view of the aforementioned compression of the order book in the first half. Notwithstanding this - and concerns relating to the economic outlook - the strong financial performance in the first half and the healthy order book give the Board confidence that adjusted profit before tax and EPS will exceed current consensus market expectations for the year as a whole.'
At 8:22am: (LON:JDG) Judges Scientific PLC share price was +275p at 3715p