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Profit warning at Gooch & Housego
Optical components maker Gooch & Housego has issued a full-year profit warning, saying demand for some of its industrial laser products was considerably weaker than it had expected, and that it would cut costs where possible. The company said it expected profits for the year ending 30 September to be “significantly below” its previous expectations, sending its shares down 17 per cent to 383.75p. Analysts on an average had expected the company to earn a pre-tax profit of £10.2m. G&H, which supplies critical components to optical and laser system makers, said it would continue to consolidate and integrate the acquisitions it made last year to diversify its revenues.