9th Jun 2015 08:00
LONDON (Alliance News) - Gooch & Housego PLC, which manufactures optical components, Tuesday said first-half pretax profit grew on the back of revenue growth primarily in its industrial, life sciences, and scientific research divisions.
In a statement, Gooch & Housego said it made a GBP5.1 million pretax profit in the six months ended March 31, compared with GBP3.7 million in the corresponding period of the prior year. Revenue increased to GBP38.9 million from GBP34.4 million, with growth in all four operating divisions, also including the aerospace and defence division's lower rate of increase.
The company increased its dividend for the six months to 3.0 pence from the 2.6p paid for the corresponding period the prior year.
"Gooch & Housego has performed well in the first six months of the financial year against a background of generally improving market conditions. We remain focused on delivering our financial goals through our twin strategies of diversification and moving up the value chain. The new management team has put in place a performance improvement programme prioritising operational excellence, business development and R&D; it is progressing well and will help underpin future performance," Mark Webster, chief executive, said in a statement.
Gooch & Housego said it has the capacity to "execute on acquisition opportunities as they arise".
Shares in Gooch & Housego were untraded on Tuesday morning. The stock last traded at 785.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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