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Judges Capital
- BY: Andrew Hore |
- POSTED: 26/08/2008 |
Judges Capital made nearly as much in the first half of 2008 as it did for the whole of 2007.
The scientific instruments manufacturer reported pre-tax profits jumped from £190,000 to £672,000 in the six months to June 2008. Turnover increased from £2.84m to £3.48m. If the gain on its Poole Investments shares is excluded then Judges made pre-tax profits of £716,000 in 2007.
Cash generated from operations helped to reduce net debt to £1.07m. The interim dividend has been increased from 1.1p to 1.2p a share.
Judges shares rose 3.5p to 104p each, valuing the company at £4.2m. The shares are trading on nine times adjusted earnings per share for the first half of 2008. The second half is unlikely to be as strong as the first but it should still generate enough profit to take the full year profits to more than £1m.
All three businesses increased their turnover and profit contribution. The order book is slightly down on the 2007 year end level but still higher than for June 2007.
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