Judges Scientific (JDG) Trading update summary
Event summary combining transcript, slides, and related documents.
Trading update summary
22 Jan, 2026Trading conditions
Market challenges, especially US federal funding uncertainty, led to underperformance against expectations for 2025.
Satisfactory results in Europe and China were offset by continued weakness in the USA.
Reduced investments in offshore wind impacted H2 growth.
Order intake
Organic order intake weakened through 2025, ending the year down 6% year-on-year.
US orders declined 23%, with additional weakness from offshore wind markets.
2025 financial performance
Adjusted earnings per share for 2025 expected to be around 275p, 6% below market expectations.
Cash conversion remains strong and in line with historical performance.
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