Judges Scientific Plc (JDG) 2018年年度报告「LSE」.pdf

1、Annual Report and Accounts 2018Judges Scientific plc Annual Report and Accounts 2018Cover image:Armfield 22.5 metre recirculating flume with wind over wave simulation and counter current flow.This page:GDS ELDYN Dynamic Triaxial Testing System,used for modelling the effects of dynamic loads applied

2、to soils.For more information visit:ContentsStrategic report1 Highlights2 At a glance6 Chairmans Statement7 Chief Executives Report9 Business model and strategy11 Principal Risks and Uncertainties13 Finance Directors ReportGovernance report16 Board of Directors18 Corporate Governance Statement21 Aud

3、it Committee Report22 Remuneration Report25 Directors reportFinancial statements27 Independent auditors report32 Consolidated statement of comprehensive income33 Consolidated balance sheet34 Consolidated statement of changes in equity35 Consolidated cashflow statement36 Notes to the consolidated fin

4、ancial statements60 Parent company balance sheet61 Parent company statement of changes in equity62 Notes to the parent company financial statements68 Ten year financial historyIBC Company informationContinued positive momentumJudges Scientific plc is an AIM-listed company specialising in the design

5、and production of scientific instruments.Corporate expansion is being pursued,both through organic growth within its subsidiary companies and through the acquisition of top-quality businesses with established reputations in worldwide markets.Investment case Buy and build model within the scientific

6、instrument market Favourable market Long-term growth drivers Large pool of potential acquisitions in global niches Low capital requirements Track record of acquisitions and reputation as a good acquirer Sixteen acquisitions since May 2005 Strict acquisition discipline Buying sustainable businesses a