Gooch & Housego PLC - Somerset-based optical components and systems maker - Says manufacturing locations in the UK, US and China have been fully reopened, adding that its Torquay site in the UK has returned to full capacity. Trading levels in June and July have recovered in line with the re-openings and orders for fibre optics, hi- reliability fibre couplers for undersea cables and its A&D and life science capabilities remain robust. States there continues to be improved demand for medical diagnostics, particularly for ventilator systems.
Looking ahead, Gooch & Housego expects improved industrial laser demand to be driven by technical innovation such as 5G and new laser based manufacturing techniques. Highlights "substantial" long term growth potential for its photonic technologies and system capabilities in all of its target sectors. Trading remains in line with management's expectations for the full year ending September 30.
"While there remains considerable short-term economic uncertainty our order book remains robust, the company's balance sheet has strengthened during the period and we have continued to invest in our high priority research & development targets," said Chief Executive Mark Webster.
Current stock price: 1,018.00 pence
Year-to-date change: down 27%
By Ife Taiwo; firstname.lastname@example.org
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