Gooch & Housego profit surges by a fifth

3rd Dec 2013 09:45

- Profit jumps by a fifth- Order book rises 12 per cent over the year- Dividend up by 21.1 per centAIM-listed optical components and systems manufacturer Gooch and Housego said annual pre-tax profit increased by nearly a fifth and, with a strong pipeline of new products, believes it is well-positioned to deliver sustained growth.The Somerset-based industrial laser specialist said adjusted pre-tax profit jumped 18.3% for the year ended September 30th to £9.7m, despite increased spending on research and development plus challenging market conditions.Revenue rose 3.9% to 63.3m while margins improved from 13.5% to 15.3%. Basic earnings per share increased 13.5% to 27.7p. Chief Executive Officer Gareth Jones said: "Trading conditions during the year were broadly positive, albeit set against a background of some uncertainty affecting most of the sectors in which Gooch & Housego operates."With a strong pipeline of new products the company is well-positioned to deliver sustained growth and continued margin improvement."The order book ended the year at £27.8m, an increase of 12% from the beginning of the year.A total dividend of 6.3p per share has been offered, up 21.2% from the same time last year.CJ