Judges Scientific ups dividend as profit grows; notes uncertainties

Judges Scientific PLC on Thursday said one of the main uncertainties affecting its business were decisions around US research funding, as it posted a higher profit and dividend.

The London-based investor in the scientific instrument sector said pretax profit climbed 14% to £6.6 million in the first half of 2025, from £5.8 million a year prior.

Adjusted basic earnings per share were up 14% at 141.4 pence from 123.7p.

Revenue grew 15% to £70.2 million from £60.8 million. The company noted that organic intake increased in most of its trading regions but was 18% lower in North America, a critical market for scientific instruments. The only other contracting region was the UK, which was 7% lower.

Meanwhile, China and Hong Kong were up 120% in the first half of 2025, after a flat first half of 2024, while the Rest of Europe was up 7%.

The best absolute organic performances were in India, France and Italy, while the worst absolute performances were in the US, Czech Republic and Brazil.

Judges Scientific declared an interim dividend of 32.7p per share, up 10% from 29.7p a year prior.

Looking ahead, the company expects to report trading in line with market expectations, citing a consensus of adjusted basic earnings per share of 288.7p for 2025, up 1.9% from 283.4p in 2024.

Chair Ralph Elman said: ‘The main uncertainties affecting the company are the decisions around US research funding and the timing of the Geotek next coring expedition. Notwithstanding these uncertainties, a priority is to restore the performance of those of our businesses that are experiencing trading challenges and product-specific issues. While remaining vigilant to the ongoing market challenges and the short-term sensitivity to order timing and revenue, trading remains in line with market expectations for the full year.’

Judges Scientific shares fell 1.3% to 6,200.00 pence each on Thursday morning in London.

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