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8 Apr 2010 07:00
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For immediate release |
8 April 2010 |
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Gooch & Housego PLC
(The "Company")
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Half-Year Trading Update
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Gooch & Housego PLC, the specialist manufacturer of optical components and systems, announces that trading for the half-year to 31 March 2010 was ahead of management expectations as a result of a continuing recovery in our core markets and growth in new business, particularly in the aerospace & defence sector.
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Although the upturn has been uneven, our global presence and our strategy of diversification have enabled Gooch & Housego to benefit from those markets and sectors that are leading the economic recovery. Demand is currently at a level that it is putting some pressure on the manufacturing capacity at several of our operating locations and we have responded with a number of actions to ensure that we can continue to satisfy our customers' requirements at acceptable leadtimes. Orders on hand on 31 March were 27% higher than at the start of the year at Β£19.8 million, of which Β£14.0 million is scheduled for shipment by 30 September.
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The challenges presented by rising demand combined with continuing economic uncertainties mean that we retain an element of caution despite this generally encouraging outlook.
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Interim results are expected to be announced on 8 June.
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For further information please contact:
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Gareth Jones/Andrew Boteler, 01460 256440 |
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Tim Thompson/Chris McMahon, Buchanan Communications Ltd, 020 7466 5000 |
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Patrick Robb, Investec Bank plc, 020 7597 5970 |
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