Judges ScientificPLC - Trading Update and Notice of Interim Results
Half Year Trading Update and Notice of Interim Results
The Directors of
Heath Scientific was acquired on
The main adverse impact of COVID-19 has been, and continues to be, on order intake. Across the Group, Organic order intake for the 6 months to 30 June was down 17.3% compared to the same period in 2019, caused by the closure of universities, the cancellation of scientific conferences and our inability to travel. This reduction in order intake has not been evenly spread across our key geographies with the
The Organic order book, as at
Organic sales in the first half were down by 12% compared to H1 2019. This was largely due to the decline in order intake but also due to some customers delaying deliveries and to the impact of the travelling ban on installations. The decline in sales was mitigated by the solid order book available at the beginning of 2020 and the compression of that order book during the first half.
First Half Performance
The Group has operated profitably in each of the first six months of this year and generated positive operating cash-flow for the period. As a result, the Group has maintained a robust balance sheet with solid liquidity.
Since the outbreak of COVID-19, the main priority for the Group has been to ensure the safety of our colleagues through adherence to the
The Group has only suffered minor supply chain issues, all of which have been mitigated and managed accordingly. Customer closures have resulted in a minority of deliveries being postponed and some installations have still to be performed.
Management actions taken to mitigate the impact of COVID-19
As announced in our AGM update on 20 May, the
The COVID-19 crisis has created significant and open-ended global uncertainty, with an associated impact on economic activity. Although there are encouraging signs, it remains to be seen where and when demand, deliveries and installations will return to normal levels, as each jurisdiction in which the Group operates is working independently according to that country's needs. Notwithstanding this, the Board continues to believe that the Group is in a robust position to weather the impact of the pandemic.
Notice of Results
The Company intends to announce its interim results for the six months to
For further information please contact:
| || |
| || |
Tel: +44 (0) 20 3829 6970
Shore Capital (Nominated Adviser & Joint Broker)
Tel: +44 (0) 20 7408 4090
Tel: +44 (0) 20 3100 2222
Alma PR (Financial Public Relations)
Tel: +44 (0) 20 3405 0205
Notes to editors:
The acquired companies are primarily
The Group's companies predominantly operate in global niche markets, with long term growth fundamentals and resilient margins.
For further information, please visit www.judges.uk.com
This information is provided by RNS, the news service of the
Quick facts: Judges Scientific PLC
Market Cap: £310.19 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE