Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Optical components and systems maker Gooch & Housego said it would not recommend an interim dividend amid Covid-19 uncertainty.
The company also said it would consider the level of any final dividend in light of full year trading performance and market trading conditions at that time.
The dividend announcement came as half-yearly performance was weighed down by lower sales in its industrial laser market.
For the six months ended 31 March 2020, adjusted pre-tax profit fell 50.8% to £2.7m on-year and revenue was down 3.8% to £57.5m.
This reduction in profit reflected 'lower volumes in our industrial laser market, the delay in receipt of a customer contract amendment for requested design changes on one of our significant A&D contracts and the impact of Covid-19 related site closures towards the end of the reporting period,' the company said.
Statutory pre-tax profit climbed 15.6% to £1.7m on-year.
'The outlook for the current year remains unchanged,' the company added.