Last checked at 5 Oct 2010 07:00
| For immediate release | 5 October 2010 |
Gooch & Housego PLC
(The "Company")
Full-Year Trading Update
Gooch & Housego PLC, the specialist manufacturer of optical components & systems, announces that results for the year ended 30 September 2010 will be comfortably ahead of market expectations. Preliminary results will be announced on 30 November 2010.
Continued demand for the Company's products from across its principal market sectors, combined with the implementation of initiatives to boost manufacturing capacity referred to in the Trading Update of 13 July 2010, has enabled shipments to be maintained at higher than expected levels throughout the final quarter.
The increase in manufacturing capacity has also enabled the Company to continue to meet the growing needs of its customers and begin to reduce leadtimes despite the order book continuing to rise. At the end of the year the order book stood at £23.5 million, up from £22.1 million at the end of June and £15.5 million at the start of the year.
Gareth Jones, Chief Executive of Gooch & Housego commented: -
"The past year has seen a full recovery in our core industrial laser sector and an encouraging increase in demand from our target Aerospace & Defence and Life Sciences markets with the result Gooch & Housego is a stronger, more diversified and resilient business than it was 12 months ago. Thanks to a magnificent response by the entire team we have managed to increase output to meet record levels of demand. Whilst we continue to be aware of the potential downside risks in the global economy, we look forward to starting 2011 with a record order book."
For further information please contact:
| Gareth Jones/Andrew Boteler, 01460 256440 |
| Tim Thompson/Chris McMahon, Buchanan Communications Ltd, 020 7466 5000 |
| Patrick Robb, Investec Bank plc, 020 7597 5970 |