Last checked at 23 Jul 2012 07:00
For immediate release | 23 July 2012 |
Gooch & Housego PLC
("G&H" or the "Company")
Progress Update
Gooch & Housego PLC, the specialist manufacturer of optical components and systems, today announces that in the six weeks since the Interim Announcement on 12 June the Company has received orders worth in excess of $6 million from customers operating in the Aerospace & Defence sector.
At the time of the Interim Announcement the Company advised that while a number of significant Aerospace & Defence contracts had been subject to delays, it had a strong pipeline of near term opportunities in this sector. Gooch & Housego is now able to advise that orders have been received for all of the contracts that were delayed. In each case, these orders represent the initial releases of customer requirements for the next six to twelve months. Some of these programmes are expected to run for four years or longer. Customer forecasts indicate that requirements will increase during the life of the programmes.
In parallel, Gooch & Housego is engaged in the early stages of a number of other potentially significant programmes in this sector.
Gareth Jones, Chief Executive of Gooch & Housego commented: -
"These orders represent validation of our diversification strategy that has seen the transformation of Gooch & Housego from an industrial components supplier into a credible partner for tier-one Aerospace & Defence companies at the sub-system level."
For further information please contact:
Gareth Jones/Andrew Boteler | 01460 256440 |
Tim Thompson/Nicola Cronk, Buchanan | 020 7466 5000 |
Patrick Robb/James Grace, Investec Bank plc | 020 7597 5970 |