Judges Scientific Plc (JDG) 2020年年度报告「LSE」.pdf

1、Annual Report and Accounts 2020Maintaining resilienceJudges Scientific plc is an AIM-quoted group focused on acquiring and developing companies within the scientific instrument sector.Corporate expansion is being pursued,both through Organic growth within its subsidiary companies and through the acq

2、uisition of top-quality businesses with established reputations in worldwide markets.Investment case Robust business model;pursued with discipline Large pool of targets,every acquisition is earnings enhancing;nineteen acquisitions since May 2005 Strong long-term growth drivers in higher education an

3、d process optimisation Well diversified by geography and by scientific application Management focused on shareholder value profitability,cash generation,debt reduction,dividend growth and return on capital Dividend growth of 10+%for past 15 years,CAGR 23%Cover image:Korvus HEX benchtop thin film dep

4、osition system.This page:CoolLED are delighted that their pE-300white Illumination System was selected for a microscopy setup on the International Space Station,thanks to its high irradiance,high stability and compact size.STRATEGIC REPORT1 Highlights2 At a glance8 Chairmans Statement9 Chief Executi

5、ves Report11 Business model and strategy13 Section 172 statement14 Environmental,social and governance15 Principal risks and uncertainties17 Finance Directors ReportGOVERNANCE REPORT20 Board of Directors22 Corporate Governance Statement25 Audit Committee Report26 Remuneration Report29 Directors Repo

6、rtFINANCIAL STATEMENTS31 Independent auditors report40 Consolidated statement of comprehensive income41 Consolidated balance sheet42 Consolidated statement of changes in equity43 Consolidated cashflow statement44 Notes to the consolidated financial statements71 Parent company balance sheet72 Parent