8th Apr 2015 07:51
LONDON (Alliance News) - Optical components and systems manufacturer Gooch & Housego PLC on Wednesday said its trading in the first half of its financial year to the end of March was slightly ahead of its expectations.
The company said it has performed well in the half, particularly in the industrial sector on the back of good demand for both solid state and fibre optic lasers and telecommunication systems.
Underlying sales growth for the company was higher than anticipated, driven by good customer demand and by the strength of the US dollar against sterling. Its order book at the end of the half is around 5.8% higher than at the start of the financial year, it said.
Elsewhere, the company said it has completed the closure of its facility in Melbourne, Florida and said the move of its Palo Alto site in California to nearby Fremont was on track.
The company will publish its results for the first half to the end of March on June 9.
"The company has performed ahead of expectations in the first six months of the financial year against a background of generally improving market conditions and remains well placed for future growth," said Chief Executive Mark Webster.
Shares in Gooch & Housego were up 3.7% to 701.25 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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