Judges Scientific PLC (AIM:JDG) has hiked its interim dividend by 16% after achieving 13.4% profits growth in the half-year to June 30, 2022.
The company said it expects instruments maker Geotek, acquired for around £80mln in May, to make a strong contribution to its full-year performance, with results for 2022 now predicted to be “significantly” ahead of existing market expectations.
The scientific instruments group said its organic business continued to recover from the impact of COVID-19 in the six-month period, although supply chain constraints impacted the rate of recovery.
Adjusted pre-tax profits rose to £9.6mln from £8.5mln in the period, on revenue climbing 8% to £46.4mln.
Organic order intake grew by 4% in the first half compared with the same period last year and was 3% higher than last year at the end of August.
The company had cash of £36.4mln at end-June, up from £18.4mln at the end of December 2021, while net debt rose to £27.2mln from £2.9mln.