Gooch & Housego trading remains on track

Gooch & Housego, a specialist manufacturer of optical components & systems, confirmed that trading in the last six months has been in line with company expectations after a mixed performance among its sectors.

Gooch & Housego, a specialist manufacturer of optical components & systems, confirmed that trading in the last six months has been in line with company expectations after a mixed performance among its sectors.

The aim listed laser specialist said encouraging trend in orders, as reported in its February update, has continued with the order book at the end of March at £29.6m, up 19% from the start of the year.

Gooch & Housego added that overall mixed trading conditions reflected current economic uncertainties, with some sectors performing well and others less so.

US Aerospace & Defence sector continued to be challenging, with budget cuts and threats of sequestration adversely affecting decision making, it said.

In contrast, G&H won significant orders from European Aerospace & Defence customers during the same period.

Elsewhere Industrial and Life Sciences sectors market conditions have been similarly mixed but, as in Aerospace & Defence, the group said it remains focused on product development to address an increasingly diverse range of applications.

During the six-month period, Space photonics has emerged as a significant new application area, one that G&H hopes to expand with its focus on fibre optics, semiconductor lasers and precision optics.

Gooch & Housego has also recently established a Japanese subsidiary, opened a sales office in Singapore and strengthened its teams in China as it expands its presence in Far East markets.

Chief Executive Gareth Jones commented: "Against a backdrop of continuing economic uncertainty, Gooch & Housego is focusing on delivering growth through the provision of innovative photonic technology solutions in specialised applications where we can take a leading or dominant position in a global market."

CJ

Recommended

The top funds to invest in
Funds

The top funds to invest in

Investors continue to favour passive funds in April though figures reveal an actively managed money market fund also caught their eye. We look at wher…
3 May 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
20 Apr 2023
Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?
Savings

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?

Two fortunate NS&I Premium Bond winners are now millionaires. Find out here if you’re one of them.
1 Jun 2023
The best one-year fixed savings accounts - June 2023
Savings

The best one-year fixed savings accounts - June 2023

You can now earn 5% on 1 year fixed savings accounts - the best rate seen in 14 years. We have all the latest rates available now.
2 Jun 2023
The top healthcare funds to buy
Investments

The top healthcare funds to buy

Increasingly rapid progress in drugs and healthcare technology makes these trusts top tips, says Max King.
1 Jun 2023