JUDGES SCIENTIFIC (AIM:JDG) Earnings ahead
The designer and manufacturer of scientific instruments came out with a strong trading update announcing that adjusted earnings for the full year ending 31st Dec 2011 are now likely to exceed current market expectations – forecasts were previously for pre-tax profit of £3.26m and eps of 48.97p, however, these have now been upgraded (see below).
Since 30 June 2011, the Group’s operations have continued to generate satisfactory sales and margins. Deben, in which a 51% interest was acquired in March 2011, has performed strongly and in line with what the Board anticipated at the time of the acquisition. Group order intake has also remained ‘robust’. On the back of the update the house broker has increased their forecast for the current year 2011 to adjusted EPS of 56p (an upgrade of 9.8% therefore), with similar increases for FY2012F. The shares are well off their July 2011 highs of 500p and are surely worth a closer…