Gooch & Housego PLC - Somerset-based maker of photonics components and systems - For the six months to March 31, reports pretax profit jump to GBP3.3 million from GBP1.2 million a year prior. Revenue climbs 32% to GBP71.3 million from GBP54.1 million. Citing a positive outlook, declares interim dividend of 4.8 pence per share, up 2.1% from 4.7p. Looking ahead, notes "sustained demand" across its target markets, with its order book as at March 31 growing 3.8% to GBP124.4 million from GBP119.9 million a year ago. Further, notes growth in deliveries into industrial laser markets, especially into Asia. "This has been driven by post-pandemic end customer demand for electronic products recovering strongly, although demand levels are expected to normalise in the coming period," firm says. However, notes continued extended lead times in some part of its supply chain, for which it maintains higher levels of safety stocks.

Current stock price: 567.00 pence, up 1.6% on Tuesday

12-month change: down 34%

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.