LONDON (ShareCast) - (Sharecast News) - Scientific instruments conglomerate Judges Scientific has reassured investors that results for 2024 will be in line with expectations despite a "difficult year" for the company.
The company, which acquires and develops companies in the scientific instrument sector, said a challenging environment impacted trading across the group last year, with its Geotek geological core analysis division generating no revenues as a major coring expedition was delayed - as was previously announced.

Across its other businesses, there was also a large reduction in orders from China, together with a general weakness in order intake and some customers delaying orders and deliveries.

Revenues were down 5.8% on an organic basis, but just 0.7% lower when excluding coring.

However, organic order intake was up 7% on 2023; excluding coring it would have been up 2.2%.

"The current year is starting more encouragingly, with Geotek's coring expedition having commenced and a number of the deferred projects from 2024 are now anticipated to contribute to H1 earnings," the company said.

"The board remains confident in the long-term growth drivers of the business and expects Adjusted earnings per share for 2024 to be in line with current market expectations as updated in November 2024."

Consensus estimates point to adjusted earnings per share of 276.8p for 2024, down from 374.6p in 2023.

Shares were up 2.4% at 7,538p by 0902 GMT, having dropped by more than a third over the past six months.

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