Gooch & Housego PLC Full-Year Trading Update (8220P)
October 07 2013 - 2:00AM
UK Regulatory
TIDMGHH
RNS Number : 8220P
Gooch & Housego PLC
07 October 2013
For immediate release 7 October 2013
Gooch & Housego PLC
("G&H" or the "Company")
Full-Year Trading Update
"Profit in line with market expectations"
Gooch & Housego PLC, the specialist manufacturer of optical
components & systems, today announces that profit for the year
ended 30 September 2013 is expected to be in line with market
expectations. Preliminary results will be announced on 3 December
2013.
Trading conditions during the year were broadly positive, albeit
set against a background of some hesitancy and uncertainty
affecting most of the sectors in which G&H operates. Order
intake was at the level needed to sustain growth in the business.
The order book ended the year at GBP27.8 million, which is an
increase of 12% over the level at the start of the year.
G&H has seen continued growth in its Aerospace & Defence
business despite the headwinds affecting this sector. While some
significant programmes stalled or were subject to delays, other
more mature programmes proceeded as planned and outweighed the
setbacks. While this market continues to be challenging, the
Company remains optimistic about growth based on the strong
customer relationships that have been developed in recent years and
the breadth of opportunities currently being addressed.
In line with its strategy, the Company has continued to
diversify its activities in the Industrial sector, with sensors and
test & measurement systems growing in importance over the past
year, combined with renewed activity in the undersea
telecommunications market. In the industrial laser market G&H
has kept pace with the technology shift away from solid state
lasers in favour of fibre lasers for many routine material
processing applications. The Company is now a major supplier to the
fibre laser market at both component and subsystem level.
In Life Sciences, the Company began to utilise its Systems
Technology Group (STG), established mid-way through the year to
leverage G&H's excellence in components to develop subsystems
level products, to address new opportunities in laser surgery and
to build upon its already strong presence in Optical Coherence
Tomography. These initiatives, combined with established business
in microscopy and research & development work in diagnostics,
have reinforced Life Sciences as one of the Company's main growth
markets.
Creating the means to deliver growth has been a primary
objective during the past year. In addition to initiatives such as
setting up the STG, G&H has established a presence in the
satellite and space markets and has taken a more focussed approach
to product, application and business development. In parallel, the
Company has been working on opportunities to increase the scope of
its product offering and bring in new skills and experience.
Gareth Jones, Chief Executive of Gooch & Housego commented:
-
"Despite what at times have been challenging market conditions,
Gooch & Housego has traded in line with expectations whilst
investing in and implementing several significant initiatives that
will underpin long term growth."
For further information
contact: -
Gareth Jones / Andrew Gooch & Housego
Boteler PLC 01460 256440
Tim Thompson / Gabriella
Clinkard Buchanan 020 7466 5000
Patrick Robb / David Investec Bank
Anderson plc 020 7597 5970
This information is provided by RNS
The company news service from the London Stock Exchange
END
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