UK's Judges Scientific H1 revenue, profit fall amid offshore wind weakness

Overview

• UK scientific instruments group's H1 revenue fell 21% amid challenging end markets

• Adjusted pre-tax profit dropped 75% as cost cuts only partly offset lower volumes

• Company maintained full-year earnings guidance and raised interim dividend by 10%

Outlook

• Judges Scientific maintains 2026 guidance for adjusted EPS in line with market expectations of 200.5p

• Company expects no Geotek coring expedition revenue in 2027; consensus adjusted EPS seen at 224.9p

• Company says US research funding environment remains challenging; signs of improvement in China procurement

Result Drivers

• MARKET HEADWINDS - Reduced US research funding, delays in China procurement, and offshore wind weakness weighed on H1 performance

• BUSINESS GROWTH IN SELECT SECTORS - Eight businesses grew, supported by operational initiatives and healthier conditions in semiconductors and battery development

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the industrial machinery & equipment peer group is "buy."

• Wall Street's median 12-month price target for Judges Scientific PLC is GBp6,500.00, about 71.5% above its September 22 closing price of GBp3,790.00

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 21 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)