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Scientific instrument business investor Judges Scientific reported a rise in profit on higher revenue and margins amid cost cuts.
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 on current year trading performance, the company said it would be 'limited if the outbreak only lasts a further two months and will have a progressively growing and more significant impact thereafter.' '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