Shares of Judges Scientific PLC (AIM:JDG) fell 19% after the company warned it would miss revised full-year earnings expectations due to delayed orders.
The group, which acquires and develops businesses in the scientific instruments sector, had anticipated a stronger second half following a challenging first half marked by project deferrals and weak market conditions.
While the second half showed improvement, key orders needed to meet projections have not materialized in time. Year-to-date organic order intake rose 4.2%, but excluding a significant contract, overall intake declined 1.6%, signalling ongoing market challenges.
The company now expects adjusted basic earnings per share for 2024 to range between 270p and 300p, below previous estimates. Despite the setback, the board remains confident in long-term growth prospects.
The stock was down 1,910p at 8,340p.