Optical components and systems maker Gooch & Housego saw profit plunge as a downturn in demand for critical components in China amid the US-Sino trade hurt margins. For the year ended 30 September 2019, pre-tax profit fell 40.6% to £6m and revenue rose 3.4% to £129.1m. Adjusted operating margins fell to 12.6% from 15.3% in 2018, reflecting the impact of lower sales of its relatively higher-margin industrial laser products and a rise in sales from increased investments, the company said. Looking ahead, Gooch said it was 'well position' to deliver progress. 'Our order book reflects strong demand for fibre optics, hi-reliability fibre couplers and our A&D and life science capabilities, with industrial laser demand yet to recover to more "normalised' levels,' said Mark Webster, chief executive officer. 'G&H's forecasts and plans are not dependent on an industrial laser recovery. The Board is confident the company is well positioned to deliver progress in FY20 and beyond.'
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