Gooch in a plunge after laser letdown
Wednesday 22 February 2012
The laser technology company Gooch & Housego issued a profit warning yesterday which saw its shares plunge nearly a fifth.
Gareth Jones, the chief executive, warned that demand for its so-called Q-switch equipment, which magnifies the heat of lasers, had fallen across the world, particularly in its key market of China.
After a poor four months, profits for the year ending in September were now likely to come in "significantly below" the board's expectations, the company warned. Its Q-switches are used in a wide range of factories using laser technology.
The chief executive said: "We find ourselves exposed to the cyclical nature of the industrial sector that last year helped us to record record results."
Shares in the AIM-listed company fell 79.75p to 383.75p.
- 1 Scottish referendum: So how about the English now being given a chance to split from England?
- 2 Friends 20th anniversary: Alison Jackson photographs reunited cast
- 3 London council removes 'unacceptable' Stamford Hill posters telling women which side of the road to walk down
- 4 The response to my Pizza Express review has been overwhelming, and taught me a lot about journalism
- 5 Free U2 album: How the most generous giveaway in music history turned into a PR disaster
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Archbishop of Canterbury admits doubts about existence of God
Portuguese academic says British are 'filthy, violent and drunk'
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...