Judges Scientific Share Discussion Threads

[cockerhoop] 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.

[tomps2] 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)



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

[cockerhoop] 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.

[wilmdav] 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.

[finkwot] 09/3/2018 11:12

He missed out the 'aught' from his name.

[cockerhoop] 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.

[ny boy] 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.

[cockerhoop] 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!

[superadams] 15/1/2018 19:52

David- what are the other 2 perchance ?

[davidosh] 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.

[cockerhoop] 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?

[tomps2] 23/10/2017 06:54

Here's JDG presentation at Mello



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

[davidosh] 14/10/2017 10:07

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....



Just mail me via that site to let me know you are coming.

[milesy] 28/9/2017 09:53

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.

[saucepan] 21/7/2017 10:09

Thanks; noted.

[cockerhoop] 21/7/2017 09:15

Those historic EPS figures are spurious for comparison purposes Saucepan. Last 2 years adjusted EPS have been 2015 - 109.2p, 2016 - 84.8p.

[saucepan] 21/7/2017 08:03

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.

[cornishman33] 21/7/2017 08:00

Welcome back. Held these since 2009, although gradually reduced since the £24 peak a few years ago.

[saucepan] 21/7/2017 07:44

Back into this old favourite today after a long absence.

[cornishman33] 20/7/2017 08:01

Just took a while to warm up!

[cockerhoop] 20/7/2017 07:30

28.1% increase in Order Book - organic order book at a record 16.5 weeks and this weeks earlier acquisition adding nearly £1m pbt pa.

And the price pretty much unmoved from Mondays opening.........bizarre!

[cockerhoop] 18/7/2017 06:52

Nice bolt on acquisition at 5x adjusted EBITDA along with increasing the stake in Bordeaux to 75.5%.