UPDATE 1-Gooch & Housego FY profit falls; sees tough trading
Xinhua Financial News (November 25, 2008)* Full-year profit falls
* Says trading to remain difficult
* Total dividend for the year unchanged at 4.5p
* Shares indicated 5 pct lower
(Adds details on trading, dividend)
Nov 25 (Reuters) - Optical components maker Gooch & Housego Plc posted a 21 percent fall in full-year pretax profit, mainly due to tough trading conditions in its core industrial laser market, and said it was not expecting any significant underlying growth in the short term.
The company also said it expects trading conditions to remain difficult for some time.
"It is likely that the problems affecting the global economy will continue to adversely affect our traditional industrial laser market in the coming year," Chief Executive Gareth Jones said in a statement.
For the year ended Sept. 30, the company's pretax profit fell to 5.1 million pounds ($7.74 million) from 6.5 million pounds last year.
Revenue rose 9 percent to 33.4 million pounds, helped by the performance of the group's Components and Material Division's fibre optics business, acquired in May 2007.
The company proposed a final dividend of 3.0 pence, making a total of 4.5 pence for the year, unchanged from last year.
At 0809 GMT, shares of Gooch & Housego were indicated 8 percent lower at 145 pence on the London Stock Exchange.
(Reporting by Tresa Sherin Morera in Bangalore; Editing by Vinu Pilakkott) ($1=.6590 Pound) Keywords: GOOCHANDHOUSEGO/ (tresa.sherin@thomsonreuters.com; +44 207 542 7717; Reuters Messaging: tresa.sherin@thomsonreuters.com)
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