7th Apr 2014 09:51
LONDON (Alliance News) - Gooch & Housego PLC Monday said that trading in the first-half of the year was in line with management expectations, supported by good customer engagement in its key markets and growth in its order book.
In a trading update for the six months ended March 31, the manufacturer of optical components and systems said its order book is 9% higher than at the beginning of the year, and up 2% on a like-for-like basis, allowing for the acquisition of Spanoptic Ltd, a Scotland-based manufacturer of precision optics.
The group said it is well positioned for growth, despite overall market conditions remaining "neutral", as it is encouraged by good customer engagement and a pipeline of opportunities.
Gooch & Housego said it increased investment in research and development in the first half of the year, to accelerate projects and continue the expansion of the Systems Technology Group.
The group said it will release in interim results on June 10.
The group also said that it is streamlining its operations in order to deliver operational efficiencies, margin improvement and enhanced competitiveness.
Gooch & Housego shares were trading 1.8% lower Monday morning at 676.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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