Gooch & Housego shines as new orders fly in

Gooch and Housego, a manufacturer of optical components and systems, announced that since its interim statement on 12 June it has received orders worth in excess of $6m from customers operating in the Aerospace & Defence sector.

Shares in the aim listed industrial laser specialist rose over 3 percent as it added that a significant number of Aerospace & Defence orders that had previously been delayed have now been received.

"In each case, these orders represent the initial releases of customer requirements for the next six to twelve months. Some of these programmes are expected to run for four years or longer. Customer forecasts indicate that requirements will increase during the life of the programmes," the group explained in a statement.

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Gooch & Housego said it also engaged in the early stages of a number of other potentially significant programmes in this sector.

Chief executive Gareth Jones commented: "These orders represent validation of our diversification strategy that has seen the transformation of Gooch & Housego from an industrial components supplier into a credible partner for tier-one Aerospace & Defence companies at the sub-system level."

CJ