Gooch & Housego PLC Half Year Trading Update (1299U)
April 05 2016 - 2:00AM
UK Regulatory
TIDMGHH
RNS Number : 1299U
Gooch & Housego PLC
05 April 2016
For immediate release 5 April 2016
Gooch & Housego PLC
("G&H" or the "Company")
Half Year Trading Update
"Full year trading remains in line with management's
expectations"
Gooch & Housego PLC (AIM: GHH), the specialist manufacturer
of optical components & systems, announces that trading in the
six months to 31 March 2016 was in line with management's revised
first half expectations announced in the AGM Trading Update
published on 24 February 2016.
The Company expects full year trading to be in line with its
expectations, which will see a greater weighting in the second half
of the year than the last financial year.
In our 24 February trading update we reported an improving
market for Industrial lasers. Since then we have seen that demand
strengthening further, in conjunction with continued strong demand
for our fibre based products. This is reflected in an even more
robust order book, which stood at GBP39.1 million as at 31 March
2016, a 13.1% increase compared with the same time last year.
We continue to expect that a good second half trading
performance will be driven by orders for our fibre business, in
particular high reliability undersea fibre components, fibre based
satellite communications and fibre optic sensing, in addition to a
recovering microelectronics sector.
Our adoption of Lean principles and the operational efficiency
measures taken in the first half are expected to deliver savings in
the second half of the financial year. We will continue to benefit
from concentrating our R&D efforts on fewer more productive
projects, which combined with enhanced business development support
has led to the introduction of more new products.
The Company's Interim Results, for the six months ended 31
March, are expected to be announced on Tuesday 7 June 2016.
Mark Webster, Chief Executive Officer of Gooch & Housego
commented:
"Gooch & Housego is well-positioned to benefit from
improving market conditions and has the capacity to respond to
increasing demand. Our commitment to diversification has enabled us
to navigate a challenging period at the beginning of the year and
still be in a position to deliver full year expectations. We remain
committed to our strategy of diversification and moving up the
value chain, whilst continuing to invest in our continuous
improvement programme, which will underpin future performance."
For further information
contact: -
Mark Webster / Andrew Gooch & Housego
Boteler PLC 01460 256440
Mark Court / Sophie
Cowles / Catriona
Flint Buchanan 020 7466 5000
Patrick Robb / David Investec Bank
Anderson plc 020 7597 5970
Notes to editors
1. Gooch & Housego is a photonics technology business
headquartered in Ilminster, Somerset, UK with operations in the USA
and Europe. A world leader in its field, the company researches,
designs, engineers and manufactures advanced photonic systems,
components and instrumentation for applications in the Aerospace
& Defence, Industrial, Life Sciences and Scientific Research
sectors. World leading design, development and manufacturing
expertise is offered across a broad range of complementary
technologies.
2. All financial information included in this announcement is
sourced from unaudited management accounts and excludes any
specific items. This announcement contains certain forward-looking
statements that are based on management's current expectations or
beliefs as well as assumptions about future events. These are
subject to risk factors associated with, amongst other things, the
economic and business circumstances occurring from time to time in
the countries and sectors in which G&H operates. It is believed
that the expectations reflected in these statements are reasonable
but they may be affected by a wide range of variables which could
cause actual results, and G&H's plans and objectives, to differ
materially from those currently anticipated or implied in the
forward-looking statements. Investors should not place undue
reliance on any such statements. Nothing in this announcement
should be construed as a profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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