RNS Number : 8645A
Gooch & Housego PLC
05 April 2012
For immediate release 5 April 2012
Gooch & Housego PLC
("G&H" or the "Company")
Half-Year Trading Update
Gooch & Housego PLC, the specialist manufacturer of optical components and systems, today announces that trading for the first six months of the year was in line with our revised management expectations, following the trading update published on 21 February, 2012.
In the past few weeks since that update we have seen further signs that confidence is returning to the Industrial Laser market, including the receipt of two significant orders for Q-switches from customers in the Far East. Despite this improvement, overall demand levels remain below the record levels of the last two years.
Demand from other market sectors, including telecommunications, aerospace & defence and life sciences, has been steady during the first half of the year and sales in these sectors remained broadly in line with our original forecasts. A combination of gradually improving market conditions and a continued focus on diversification has seen order intake during the second quarter return to more acceptable levels. In the past few weeks new orders totalling in excess of US$7 million have been received for aerospace & defence products and applications.
Gareth Jones, Chief Executive of Gooch & Housego commented: -
"Following a difficult first half, Gooch & Housego is well-positioned to benefit from improving market conditions and has the capacity to respond quickly should demand continue to increase. During the second half of the year we will continue to strive for efficiency gains and make organisational improvements aimed at delivering organic growth in our target market sectors."
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
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