Share Name Share Symbol Market Type Share ISIN Share Description
Judges Scientfc LSE:JDG London Ordinary Share GB0032398678 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.00p -0.39% 2,530.00p 2,500.00p 2,560.00p 2,560.00p 2,530.00p 2,540.00p 2,135 14:53:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 71.4 5.1 65.6 38.6 156.18

Judges Scientfc Share Discussion Threads

Showing 1926 to 1949 of 1950 messages
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DateSubjectAuthorDiscuss
24/5/2018
10:28
Hmm, a bit of weakness last few days.
tiswas
24/3/2018
00:17
On reflection, it clearly is not acceptable to recalculate ROCE by adding back amortisation to the numerator EBIT because the denominator, capital employed, has been periodically reduced as goodwill is amortised. This means the Sharepad/Morningstar ROCE ratios are correct. I have not deleted the above post in case anyone wishes to think about it or comment. This would seem to mean that the poor ROCE figures for 2012-2016 have been dragged down by central office costs. To extend the picture, here are the comparisons from 2008-2011. . 2008 2009 2010 2011ROTIC 34 44 45 46ROCE(Sharepad) 16.5 15.8 (1.0) 22.7 2010 ROCE is distorted by a sizeable charge relating to convertible redeemable shares that had no bearing on the underlying performance of the company.
wilmdav
23/3/2018
22:45
Agreed. Excellent presentation. One of my key ratios when researching stocks is return on capital employed, adjusted operating profit/(total assets - current liabilities). I usually rely on Sharepad's data, which comes from Morningstar, although their capital employed denominator is always inexplicably slightly higher than if I try to calculate it. JDG rely on ROTIC, return on invested capital, for assessing the performance of their subsidiaries. A definition is provided in the 2017 report. "The annual rate of ROTIC is calculated by comparing attributable earnings excluding central costs, adjusting items and before interest, tax and amortisation ("EBITA") with the investment in plant and equipment, goodwill and unamortised intangibles and net current assets (excluding cash)." I found the denominator impossible to calculate from the accounts but the presentation made clear that it represented money actually spent on the purchase of all acquisitions plus any money subsequently spent on them (very little). Property is excluded. ROTIC clearly works for JDG but it is of less help to investors wishing to compare performance with other companies. Below is comparison of Sharepad's ROCE and JDG's ROTIC for the last 6 years. . 2012 2013 2014 2015 2016 2017ROTIC 40 30 24 25 15 21ROCE 5.8 8.6 7.0 5.2 2.6 14.4(approx.-Sharepad figure not yet received) In fact the Sharepad figures are pretty useless for a company like JDG for the same reason that their normalised eps figures bear little relation to brokers' forecasts. To calculate a meaningful ROCE ratio, amortisation of acquired intangibles needs to be added back to EBIT, together with other adjustments, giving adjusted EBITA as the numerator. . 2012 2013 2014 2015 2016 2017ROTIC 40 30 24 25 15 21ROCE 27 20 18 23 16 25(approx.-Sharepad capital employed figure not yet received) These ROCE figures are excellent. Anything above 15% is generally considered to be good.
wilmdav
22/3/2018
08:45
Well worth watching, gives a great insight into David's criteria for acquired companies along with how the UK undervalue small Scientific business's compared to Continental Europe and US/Canada. JDG's is a very high class collection of business's and deserves to be valued on a premium rating imo. ROTIC of 30% achievable with a full return to profitability of the 3 under-performing units of 2016. Oxford Cryo appears very interesting - especially the Square Kilometre Array which they're bidding for a piece of.
cockerhoop
21/3/2018
09:03
Full year results presentation for the year ending 31st December 2017 by David Cicural (CEO), Brad Ormsby (CFO) and new COO Mark Lavelle. (c50 mins) Http://www.piworld.co.uk/2018/03/21/judges-scientific-jdg-full-year-results-presentation-20th-march-2018/ David Cicural, CEO Introduction – 00:17 About Judges Scientific – 00:39 The Judges group- 02:32 Key messages from 2017 results – 3:14 Introduction of new COO Mark Lavelle – 04:12 Brad Ormsby, CFO 2017 results highlights – 06:00 Performance – 08:02 Order intake – 09:22 Revenue summary – 11:19 Profit bridge – 13:06 Balance sheet & cash flow – 13:58 Return on total invested capital (ROTIC) – 15:13 Diversification – 16:44 Financial history – 17:13 David Cicural, CEO Strategy – 18:04 Growth drivers – 18:34 Acquisitions criteria & delivery – 22:35 Oxford Cryosystems – 26:29 Summary & outlook – 29:27 Q&A – 31:11 Tax – 31:14 US offices – 32:17 ROTIC historical performance – 33:21 Armfield – 37:37 Increasing the performance – 38:45 Cash conversion – 39:33 Selling of business’s? – 42:05 Integrating the business’s (to Mark Lavelle, COO) – 43:22 Non UK acquisitions? – 46:26
tomps2
20/3/2018
08:02
I was going to suggest last night 120p+ as an estimate but 131.9p is an exceptional performance. H2 providing 77.1p!! Very solid order book going into 2018.
cockerhoop
20/3/2018
07:24
Well ahead of forecasts on all fronts.
wilmdav
19/3/2018
21:30
Full year results tomorrow. According to Sharepad, forecasts are as follows. . 2016 2017ERevenue 57.3 62.0P/T Profit(adjusted) 6.6 8.9eps(adjusted) 83.7 112.7Dividend 27.5 30.3Net debt 8.6 10.3 Adjustments are primarily for amortisation of acquired intangibles. Http://www.david-wilmshurst.co.uk/jdg/jdg_data.htm
wilmdav
09/3/2018
11:12
He missed out the 'aught' from his name.
finkwot
02/3/2018
10:13
NY Boy, Have you posted on the correct thread? If you have can you expand as I'm not aware of the IMM & Lupuzor - JDG connection.
cockerhoop
02/3/2018
09:40
Like the look of these, will put in some cash when (IMM) reports top line for phase 3 Lupuzor at end if Month.
ny boy
18/1/2018
11:37
Approaching the ATH's from March 2014!
cockerhoop
15/1/2018
22:50
I've also been in a similar length of time, would be great to see David Cicurel present if he can be persuaded to head North. Good luck!
cockerhoop
15/1/2018
22:12
Http://www.freesharedata.com/mello
davidosh
15/1/2018
19:52
David- what are the other 2 perchance ?
superadams
15/1/2018
19:49
David Cicurel and JDG come to the Beckenham Mello every six months to update us after the results come out but this year I may get them to come to Derby and meet a few hundred more investors instead. I have held this company for over eight years and it is in the top three most successful Mello companies so very appropriate for them to be there.
davidosh
15/1/2018
13:06
Very nice ahead statement, unsurprisingly considering the buoyant orderbook throughout the year. Feels like £1.25p EPS. Results on 20th March Timing work well for a DC visit to Mello Derby Mr Stredder?
cockerhoop
23/10/2017
07:54
Here's JDG presentation at Mello Http://www.piworld.co.uk/2017/10/20/judges-scientific-jdg-h1-update-at-mello-october-2017/ Judges Scientific Chief Executive David Cicurel gives an H1 update at Mello. Recorded 16th October 2017. Introduction – 00:18 HI 2017 highlights – 00:48 12½ year Financial history – 5:17 Order intake – 06:37 Return on total invested capital – 12:20 Q&A – 15:20
tomps2
14/10/2017
11:07
David Cicurel will be coming to present at Mello this Monday evening if any of you would like to join about 35 other investors ? There will also be a presentation from Vipera VIP and plenty of time for a Q&A.... Http://www.freesharedata.com/mello Just mail me via that site to let me know you are coming.
davidosh
28/9/2017
10:53
Those recent interims looked good and the share price has broken out and is heading toward the 2014 high. A rare divvy-paying AIM minnow with a great story to tell.
milesy
21/7/2017
11:09
Thanks; noted.
saucepan
21/7/2017
10:15
Those historic EPS figures are spurious for comparison purposes Saucepan. Last 2 years adjusted EPS have been 2015 - 109.2p, 2016 - 84.8p.
cockerhoop
21/7/2017
09:03
Cheers, cornishman. As just posted on the ZULU thread: I do wonder if its time has come again? JDG is breaking out from the massive consolidation that ended its original wonderful bull run. Slater PEG of just 0.2 according to ShareScope. Forecast earnings growth 686%: seemed too good to ignore.
saucepan
21/7/2017
09:00
Welcome back. Held these since 2009, although gradually reduced since the £24 peak a few years ago.
cornishman33
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