Interim profits soar at Gooch

Gooch & Housego saw pre-tax profits surge to £1.7 million in the half-year to March.

Optical components and systems manufacturer Gooch & Housego saw pre-tax profits surge from £39,000 to £1.7 million in the half-year to March.

Revenues at AIM-quoted Gooch grew by an encouraging 8 per cent to £20.37 million, driven by a combination of ‘recovery in in its core markets and new business wins in the aerospace and defence and life sciences sectors.

Somerset-based Gooch, a strongly cash-generative concern making a wide variety of products including acousto-optics products such as ‘Q-switches’, modulators used inside of laser cavities, frequency shifters and tunable filters, reduced net debt from a year-end £12.1 million to £9.3 million. Furthermore, the company reported a period-end order book of £19.8 million, £14 million of which is scheduled for shipment to customers in the current financial year.

Shares in Gooch and Housego are up 18.5p to 199.5p this morning, valuing the company at £38.4 million.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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