7th Oct 2013 09:58
LONDON (Alliance News) - Gooch & Housego PLC Friday said in a trading update that it expects profits to be in line with expectations for the year ended September 30.
Gooch & Housego provide optical technologies for the aerospace and defence, life sciences and biomedical and industrial and research sectors. It will announce its full year results on December 3.
Trading conditions were broadly positive, the company said, despite a background of hesitancy and uncertainty effecting the sectors in which it operates. The company said its order book ended the year at GBP27.8 million, up 12% over the level at the start of the year, and order intake had remained at a sufficient level to sustain growth.
The company said it had seen growth in its Aerospace and Defence business despite headwinds and a continually challenging market. It had seen some programmes stalled or delayed, Gooch & Housego said, but that other mature programmes offset these issues. In the Industrial sector, the company said it had continued to diversify its activities, and in the industrial laser market it had kept up with the shift from solid state lasers to fibre lasers.
In the Life Sciences sector Gooch & Housego said it had began to utilise its System Technology Group to address opportunities in laser surgery and build on its existing presence there.
"Despite what at times have been challenging market conditions, Gooch & Housego has traded in line with expectations whilst investing in and implementing several significant initiatives that will underpin long term growth," said Chief Executive Gareth Jones in a statement.
Shares in Gooch and Housego were trading down 2.50 pence at 560.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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