Business
Full Year Trading Statement and Notice of Results
Judges Scientific plc expects its full-year adjusted earnings per share for 2025 to be approximately 275p, a 6% decrease from current market expectations of 292p, due to market challenges including uncertainties in US federal funding and reduced investment in offshore wind, which led to a 6% decline in full-year organic order intake. The company anticipates 2026 adjusted earnings per share to be between 200p and 250p, reflecting a lower opening order book of 15.7 weeks of sales and the absence of a Geotek coring expedition until early 2027, alongside continued uncertainty in the US market. Disclaimer*
About this update from Judges Scientific Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n22 January 2026\nJudges Scientific plc\n(the \"Group\" or \"Judges\")\nFull Year Trading Statement and Notice of Final Results\nThe Board of Judges Scientific plc, a group focused on acquiring and developing companies in the scientific instrument sector, provides the following update on the Group's trading performance for the financial year ended 31 December 2025 and the continued headwinds impacting the outlook for FY26. \nTrading conditions\nAs announced in September 2025, FY25 was proving a difficult period for the Group. Despite starting the year with a solid order book and delivering a Geotek coring expedition in the first quarter, the subsequent market challenges, in particular relating to uncertainties around US federal funding for scientific research, resulted in the Group failing to deliver against its original expectations for the year.\nFor the year as a whole, satisfactory performances in the Rest of Europe and China have been more than offset by the USA, where there has been no recovery since the September update.\nAdditionally, despite general resilience in industrial-focussed markets, H2 saw reduced investments in offshore wind which had been a strong growth driver for the Group.\nOrder intake\nOrganic order intake (on a like-for-like basis, excluding Geotek's coring expedition), saw progressive weakening throughout 2025. Order momentum reduced after a positive Q1 resulting in H1 order intake being up only 4% against its prior year comparative. This was flat by the end of August 2025 and finished down 6% for the full year. The decline related principally to orders from the USA (down 23%) and to a degree by weakness in offshore wind.\n2025 financial performance\nThe Board now expects adjusted earnings per share for 2025 to be in the region of 275p per share, 6% down on current market ex...