Gooch & Housego more than doubles profit

8th Jun 2011 08:19

Half year profit more than doubled at optical components maker Gooch & Housego after robust demand for lasers used in manufacturing.Adjusted profit before tax rose to £5m for the six months ended 31 March 2011 from £2.2m before. Revenue increased to £27.2m from £20.4m previously after strong growth in devices such as smartphones. "The six month period was characterised by favourable market conditions and strong demand for Gooch & Housego's products from the Industrial, Aerospace & Defence and Life Sciences market sectors. The period was also notable for the completion of two strategically important acquisitions," the group said in a company statement. Gooch & Housego, which bought Crystal Technology and EM4, said it had a record order book going into the second half of 2011.The directors have declared an interim dividend of 2p per share. CJ