AIM-listed manufacturer sees profits dive as demand reduces

A South West optical components manufacturer has blamed a reduction in demand for a slump in profits. AIM-listed Gooch and Housego (G&H) reported adjusted profit before tax of £2.6m for the six months to March 31, 2024 - down from £4.7m the year previously.

The business, which has UK offices in Ilminster in Somerset, Torquay in Devon, Denbighshire in Wales, and Plympton in Plymouth, also saw revenue fall to £63.6m from £64.5m in the first half of 2023.

However, G&H said its order book "remained strong” at £115.