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LONDON (Alliance News) - Gooch & Housego PLC on Thursday said trading for its recently-ended financial year will be in line with previous guidance, closing with a "record" order book.
The optical components & systems manufacturer said that, as at September 30, its year end order book stood at GBP96.1 million, up 33% from its GBP72.1 million order book the year before. The increase was 17% when excluding the impacts of foreign exchange, acquisitions, and disposals.
Gooch & Housego shut down its light measurement business in Florida in September, with most of the trade and assets of that business now sold. The company described its Florida business as "non-core" and said it had delivered only marginal returns, making a "small loss" in the financial year.
The manufacturer said that its financial position remains strong, and will allow further business investments with the company's chief executive, Mark Webster, calling it "another good financial year".
"Our strong performance has enabled us to continue to invest in manufacturing capacity and research & development and to bring complementary new technologies and customers into G&H through acquisitions," Webster said.
"While we remain aware of potential macroeconomic and political risks, our robust order book combined with greater diversification means the board remains confident that the group is well positioned for further growth," he added.
Shares in Gooch & Housego were down 4.4% at 1,775.00 pence on Thursday.
