Gooch & Housego PLC on Tuesday reported a jump in profit during the first half of its financial year and said it remains confident in future growth.
The Somerset, England-based photonics components and systems manufacturer said pretax profit for the six months that ended March 31 was £2.9 million, multiplying from £300,000 a year before.
This was as revenue grew 11% to £70.9 million from £63.6 million, while cost of revenue increased 9.3% to £49.3 million from £45.1 million.
Gooch & Housego declared an interim dividend of 4.9 pence per share, unchanged from a year prior.
‘The strong performance achieved in the first half of the year, against a challenging macroeconomic background, is a testament to the positive progress the group is making with the deployment of our new strategy and the resilience and depth of experience across our leadership team in navigating complex market dynamics,’ said Chief Executive Officer Charlie Peppiatt.
‘Our expectations for FY2025 are unchanged; trading has continued well post the period end, and we have greater than 95% cover for full year expected revenue, though there are increased execution risks due to increased global uncertainty.’
Gooch & Housego didn’t provide a specific revenue forecast on Tuesday.
Shares in Gooch & Housego were down 0.1% to 499.62 pence in London on Tuesday morning. The stock is down 13% over the past year.
CEO Peppiatt continued: ‘With our growing order book, strengthening market positions and differentiated photonics expertise aligned to structural growth drivers from megatrends, we remain confident in our ability to deliver further progress on our journey to mid-teens returns by 2028 and generate value for all our stakeholders.’
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