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Judges Scientific

  • BY: Andrew Hore |
  • POSTED: 20/01/2012 |

Scientific instruments supplier Judges Scientific says that adjusted earnings per share for 2011 will be higher than market consensus.

Consensus profit forecast for 2011 was £3.42m with Shore Capital forecasting £3.6m. The total dividend should be at least 8.25p a share. Judges has a strong balance sheet thanks to strong cash conversion.

The order book is the equivalent of 8.5 weeks sales. That is slightly lower than last year due to speedier deliveries at two of the subsidiaries. Although, the general outlook remains difficult Judges gets a significant proportion of its sales from the Far East where the market is stronger.

At 432.5p a share, Judges is valued at £18.6m. The shares are trading on around eight times prospective earnings for 2011. A profit of around £3.8m is expected for 2012.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2012_28.pdf

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