Gooch in a plunge after laser letdown
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.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.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments