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Judges Scientific

June 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • JDG
  • Price:
  • 11750p
Broker Liberum notes that Judges’ final results (pretax profit +11% to £31.7m) were remarkable for the fact that its dividend increased 17% to 95p and is equal to its IPO price in 2003, reflecting its formidable track record of growth, free cash flow generation and return on capital. Sales increased 20% to £136.1m with the US (+16%) and China / Hong Kong (+33%) the strongest regions. Net debt was £44.7m (1.2x EBITDA) up from £34.8m in FY’22 and reflecting £17.5m deferred consideration for Geotek. The latter is expected to land a significant contract, which is not factored into unchanged forecasts for eps of 391.2p this year and 424.9p and 453.2p in ‘25 and ‘26. I’ve already taken part profits but with plenty of f ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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