Judges Scientific – 930p

21 November 2012 – trading statement

A trading statement has confirmed that in the second half of 2012 its businesses have performed better than expected with the result that adjusted earnings per share for the full year will exceed expectations.  With eps now likely to come out at 73p for the year, the shares are on a prospective p/e ratio of 12.7x.  Following the recent strong run, we reduce to HOLD.   


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