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Scientific instrument sector investor Judges Scientific raised its dividend and said it had 'cautious confidence' of meeting market expectations for the year despite a fall in first-half profit.
For the six months ended 30 June 2020, pre-tax profit fell to £4.3m from £6.9m on-year as revenue decreased 12% to £37.4m.
'Performance was impacted by the outbreak of COVID-19 and the subsequent difficult trading conditions associated with lockdowns across the globe,' the company said.
The company raised its interim dividend by 10% to £16.5p a share.
Many of the orders that were not obtained had been deferred rather than cancelled, it added.
Organic orders to 18 September fell 13.8% on-year, and year-to date orders were now 16.2% down.
At 10:03am: (LON:JDG) Judges Scientific PLC share price was +50p at 5150p