Last checked at 13 Jul 2010 07:00
| For immediate release | 13 July 2010 |
Gooch & Housego PLC
(The "Company")
Trading Update - Ahead of Management Expectations
Gooch & Housego PLC, the specialist manufacturer of optical components and systems, announces an increase in management's expectations for the year ending 30 September 2010.
As reported in the Interim Announcement on 8 June 2010, a sustained recovery in core markets and growth in new business, particularly in the aerospace & defence sector, has resulted in record order book levels and put considerable pressure on manufacturing capacity.
A number of initiatives to significantly boost manufacturing capacity and reduce leadtimes were implemented in the second quarter. These initiatives have now begun to take effect, with increased output and falling leadtimes, despite continuing high levels of order intake. The order book at the end of June stood at £22.1 million, an 11% increase on the figure at the end of March.
The increased output supported by the strong order book has led to an increase in management's original expectations for revenues and profits for the year ending 30 September 2010.
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 |