Judges Scientific Share Discussion Threads

[alphabeta4] 25/5/2016 06:43

Neither did I - usually the Pound being weak against the Dollar is a good indicator for a rise here. It could just be bad luck and will reverse out later in the year.

[tomps2] 25/5/2016 06:42

Don't understand it, because broker forecasts were updated 20.5, and are up on forecasts from earlier? And they look strong yoy. So very perplexed.

[essential] 25/5/2016 06:37

Oh dear already down £2 in pre open. Didn't see this coming.

[tomps2] 10/5/2016 13:34

VIDEO: presentation by Judges (CEO & FD) at Mello, April 2016.

www.piworld.co.uk/videos/2016/5/10/judges-scientific-jdg-presenting-at-mello-april-2016

[davidosh] 20/4/2016 17:26

Judges discussed here...

[davidosh] 17/4/2016 22:48

Do let me know if any of you are coming....

[alphabeta4] 14/4/2016 09:45

Judges presenting at Mello on Monday...

[oregano] 04/4/2016 08:52

2 deals in a week and decent results. SCSW bound to give this illiquid stock the full treatment.

[monty9] 01/4/2016 14:31

Extracts from an Announcement this morning:

Judges Scientific, a group involved in the buy and build of scientific instrument businesses, announces that it has today acquired 100% of the issued share capital of Dia-Stron Limited ("Dia-Stron"), an instrument maker based in Andover, Hampshire. Dia-Stron designs and manufactures systems to test the mechanical properties of fibres (the "Acquisition"). The Board expects the Acquisition to be immediately earnings enhancing.

The purchase price of Dia-Stron amounted to £2.75 million in cash. An additional payment will be made to reflect any excess working capital over and above the ongoing requirements of the business. The Board expects such payment to be covered by the cash inherited at the completion date.

Dia-Stron's stand-alone accounts for the financial year to 31 March 2015 show revenues of £1.48 million and pre-tax profits of £0.59 million. Net tangible assets amounted to £0.81 million, including cash of £0.55 million. These accounts do not include the assets or profits of Dia-Stron US and Mar-Tech which were acquired by Dia-Stron prior to completion of the Acquisition and are not material in the context of the transaction.

It looks like they are buying it at about 6X earnings. It should add about 8p to EPS.

Conclusion: Small but perfectly formed.

[oregano] 22/3/2016 09:24

SCSW love this stock. they will give it a shunt early next month. And given illiquidity it moves pretty fast.

[alphabeta4] 22/3/2016 09:20

Yes - it's been a while but these look like a decent beat to me. Interestingly broker forecasts for 2017 are for a 15p increase in EPS - which by my calcs if Cool LED does the £1m earnout (which is to June 2016 and ignores any organic growth after) then 10.5 months of this (as acquired 18/2) would be almost the entire expected EPS growth.
The forward PE even on the expected EPS of 117.3p looks undemanding - at £16.35 a share it works out at 13.94 against a sector average of 18.13.
There has also been a move from $1.47 to $1.43 and €1.36 to €1.27 since the year end so there should be some positive flows should this continue and to add to this the positive currency effects in 2015 we're really until the second half which should boost revenue and profit once they are in a full year's figures.
Lots of positives here - IMHO I think this could regain a price of over £20 without a demanding valuation being required.

[oregano] 22/3/2016 08:46

very good numbers. upgrades.

[essential] 18/2/2016 08:00

Yes very impressive record of astute acquisitions

[cockerhoop] 18/2/2016 07:38

Nice little bolt on acquisition, looks like it could add £0.75m-£1m operating profit for a cost of £3.5m-£4.5m.

Has great margins too :-)

[lancasterbomber] 04/2/2016 11:46

Nice break out and spread closed

[cockerhoop] 19/1/2016 08:41

Encouraging update, they'll have done 60-65p in H2 compared to 41.1p in H1.

Order book sustained through the 2nd half coupled with exchange rate tailwinds means it's looking good for 2016.

[cockerhoop] 12/1/2016 13:52

Should be a trading statement out next week (last year it was accompanied by an acquisition)

I can easily see this on a PE of 15 - whilst they've had a growth hiccup recently they have increased EPS by 5 times over the last 6 years.

[pugugly] 12/1/2016 13:16

Continuing to fall back 0 p/e as quoted by fundamentals still too high for a company that while growing has slowed the %age rate of growth significantly.

Any thougths as to a fair p/e objective going forwqrd ?

[pugugly] 20/12/2015 10:09

A very illiquid stock so can move very fast on limited buy\ sell activity also usually a VERY wide spread so not a good stock to try and deal.

Agree with oregano above also DC is a safe pair of hands but sales could be under pressure from a slow down in capital investment and China BUT possibly gain from an increasing regulatory environment.

IMO however the multibagger days are probably gone - or only achievable over a very long (possibly 10 plus years) time scale.

[blueball] 20/12/2015 09:13

A not insignificant rise of 5% on Friday.

[droid] 18/12/2015 13:51

Some sort of breakout going on here - New Year tip somewhere maybe ?

[davidosh] 16/10/2015 13:47

If any of you would like to also meet the management and hear the story behind the Proactis results then do come and join me on Monday evening at SeaSalt. Just email me so that I can book you in. We have 42 already.

mellomeeting.co.uk