Judges Scientific Plc (JDG) 2019年年度报告「LSE」.pdf

1、Annual Report and Accounts 2019Record financial performanceJudges Scientific plc is an AIM-listed company specialising in the design and production of scientific instruments.Corporate expansion is being pursued,both through Organic growth within its subsidiary companies and through the acquisition o

2、f 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;seventeen acquisitions since May 2005 Strong long-term growth drivers in higher education and process

3、 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 14 years,CAGR 24%Cover image:Moorfield MiniLab 125 magnetron sputtering

4、 system.MiniLab systems provide research-grade thin-film deposition for R&D applications in cutting-edge fields such as 2D materials,organic electronics and renewable energies.This page:UHV Compact analytical sample stage providing precise sample manipulation with customised dual level parking posit

5、ions for sample heating and cooling.ContentsSTRATEGIC REPORT1 Highlights2 At a glance6 Chairmans Statement7 Chief Executives Report9 Business model and strategy11 Environmental,social and governance12 Section 172 statement13 Principal Risks and Uncertainties15 Finance Directors ReportGOVERNANCE REPO

6、RT18 Board of Directors20 Corporate Governance Statement23 Audit Committee Report24 Remuneration Report27 Directors reportFINANCIAL STATEMENTS29 Independent auditors report34 Consolidated statement of comprehensive income35 Consolidated balance sheet36 Consolidated statement of changes in equity37 C