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Judges Scientific profit rises; sees significant impact if Covid-19 spread lasts beyond further two

By BFN News | 10:01 AM | Wednesday 18 March, 2020


Scientific instrument business investor Judges Scientific reported a rise in profit on higher revenue and margins amid cost cuts. The company also warned that performance could be significantly impacted if the Covid-19 virus lasts a further two months. For the year ended 31 December 2019, adjusted pre-tax profit climbed 19% to £17m on-year as revenue increased by 5.9% to £82.5m. 'This improvement was driven by the overall revenue growth, good control of our cost base together with operational improvements across our businesses,' the company said, Operating margins improved to 21.1% from 18.9%, Commenting on the impact effect of the Covid-19 spread, the company said the pandemic would affect scientific conventions and its ability to travel safely to its customers and therefore impact order intake, sales and installations. The impact of the virus on current year trading performance would be 'limited if the outbreak only lasts a further two months and will have a progressively growing and more significant impact thereafter,' the company said. 'It is currently expected that the impact on the group will only be temporary and, that with its robust financial position, the Group's ability to conduct its business model will remain intact,' it added. At 10:01am: (LON:JDG) Judges Scientific PLC share price was -150p at 3250p Story provided by StockMarketWire.com

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