Gooch & Housego trading in line

Optical components and systems manufacturer Gooch and Housego said its trading performance since the end of September last year has been in line with expectations and is confident of continued growth.

Optical components and systems manufacturer Gooch and Housego said its trading performance since the end of September last year has been in line with expectations and is confident of continued growth.

Following a strong second half performance in the last financial year, the group said demand during the first quarter of this year was more subdued, although substantially better than the same period last year.

Despite uncertainty in world markets causing increased caution and delayed decision making, most notably in the US Aerospace & Defence sector, orders picked up strongly in December and January, it added.

Overall, the group's order book at the end of January stood at £29.8m, up 20% from the start of the financial year. It said the strong balance sheet reported at the end of the last financial year has been maintained.

Chief Executive Gareth Jones commented: "While the trading environment continues to be challenging, we are increasingly able to see the benefits of our concerted efforts in recent years to diversify and develop the business."

"We remain confident that this strategy constitutes a firm foundation for continued growth."

CJ

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