Profit surges at Gooch & Housego

8th Jun 2010 08:58

Optical components and systems maker Gooch & Housego said first half profit soared after it saw a recovery across most product and market sectors.Demand for the group's products recovered during the half year period and this trend is expected to continue for certain products, it said.Pre-tax profit increased to £1.7m in the six months ended 31 March from £39,000 a year earlier. Operating profit surged to £2.1m from £972,000 a year earlier as it reduced research and development, sales and marketing costs. Revenue increased to £20.4m from £18.8m during the same period a year earlier. "We have in the last six months begun to see tangible benefits of this investment, backed up by a sustained recovery in our core industrial laser business," said chief executive officer Gareth Jones.