Gooch & Housego PLC Half Year Trading Update (5892B)
April 05 2017 - 2:00AM
UK Regulatory
TIDMGHH
RNS Number : 5892B
Gooch & Housego PLC
05 April 2017
For immediate release 5 April 2017
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 2017 has been good and the Company expects
full year trading to be in line with management's expectations.
Market conditions remain mainly positive, driven in large part
by the telecommunications and industrial sectors, in particular
high reliability fibre couplers for undersea cables, precision
inspection equipment and critical components used in
microelectronic manufacturing.
First half revenue growth has been very good, albeit benefitting
from a favourable foreign exchange environment and a relatively
weak comparator period. Further investment has been necessary to
enable us to take advantage of a strong order book.
Our order book stood at a record GBP66.6 million, as at 31 March
2017, which represents an increase of 70.5% compared with the same
time last year. Excluding the impact of foreign exchange and
acquisitions this represents an increase of 17.2% over last
year.
We are pleased with the overall performance of our recent
acquisitions. Kent Periscopes and Alfalight were acquired last year
and StingRay was acquired in February of this year.
Our performance improvement programme has progressed well. Lean
manufacturing is now adopted more broadly across our sites, we have
continued to benefit from concentrating our R&D effort on fewer
high return projects and enhanced business development
activity.
The Company's Interim Results, for the six months ended 31
March, are expected to be announced on Tuesday 6 June 2017.
Mark Webster, Chief Executive Officer of Gooch & Housego
commented:
'G&H is well positioned to take advantage of the mainly
positive market conditions and has continued to invest in people
and infrastructure to meet the demands of a strong order book'.
'We remain committed to our strategy of diversification and
moving up the value chain. This has been most evident in the
A&D sector where our most recent acquisitions, combined with
investment in R&D has gone some way towards achieving our goal
of establishing 'critical mass' in this sector".
'G&H will continue to invest in our performance improvement
programme, which will underpin our future growth'.
For further information
contact: -
Mark Webster / Andrew Gooch & Housego
Boteler PLC 01460 256440
Mark Court / Sophie 020 7466
Cowles Buchanan 5000
Patrick Robb / David Investec Bank 020 7597
Anderson plc 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
TSTSSSFMLFWSEDL
(END) Dow Jones Newswires
April 05, 2017 02:00 ET (06:00 GMT)
Gooch & Housego (LSE:GHH)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gooch & Housego (LSE:GHH)
Historical Stock Chart
From Sep 2023 to Sep 2024