Market conditions brighten for Gooch and Housego

Optical components and systems manufacturer Gooch and Housego said profit for the year ended September 30th is on target as it continues its transition from a predominatly industrial components supplier to a photonic solutions maker for the aerospace & defence and life sciences markets.

Following a weak start to the year, the second half enjoyed generally favourable market conditions.

"In the industrial sector, the recovery experienced during the second quarter was followed by steady demand throughout the final six months. Although there was probably an element of re-stocking, the market has been reasonably measured without the fluctuations experienced in the past," the laser systems company said.

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As reported in July a number of previously delayed orders were received in the aerospace & defence sector. Elsewhere the life and health sciences sector continued to be an important source of revenues, it added.

Chief Executive Gareth Jones commented: "After a difficult start to the year, improving market conditions combined with solid progress in creating a more broadly-based business have enabled us to deliver a good second half."

"While the economic outlook remains unpredictable, Gooch & Housego is now well-positioned in its targets markets with world-leading products and strong customer relationships."

CJ