(Alliance News) - Gooch & Housego PLC on Wednesday expressed confident outlook going forward as demand for its products increased in the first four months of its current financial year.
The AIM stock was 6.3% higher in early trade in London at 1,360.44 pence a share.
Ahead of its annual general meeting, the Somerset-headquartered manufacturer of photonic components and systems said it saw a high demand for fibre couplers used in undersea cables during the four months to the end of January.
In addition, Gooch & Housego said it expects to experience an improved demand in industrial laser end markets and new laser-based manufacturing techniques.
Elsewhere, the company said the impact of the coronavirus is difficult to quantify at this stage, given factories in China are only just reopening after an extended New Year holiday, but it may act as a "drag" on THE semiconductors sector's short-term performance.
Looking ahead, Gooch & Housego said it expects to show progress on last year's result and intends to continue to monitor the potential impact of the coronavirus on its industrial laser products.
As at the end of January, the company's order book was GBP94.1 million compared to GBP91.4 million a year prior, up 3%.
"We remain confident in the long term growth potential for our chosen photonic technologies in all of our target sectors," said Chief Executive Mark Webster.
"Gooch & Housego will continue to pursue further progress on our long term goals of greater diversification and moving up the value chain," added Webster.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Gooch & Housego (GHH)