26th Feb 2014 12:51
LONDON (Alliance News) - Gooch & Housego said trading since October has been in line with management expectations, with confidence returning across its main market sectors during the first four months of its financial year.
The manufacturer of optical components and systems said the trading environment in its three largest market sectors - industrial, aerospace & defence and life sciences - has followed a modestly improving trend, which is reflected in the level of orders received.
It said its current order book is 11% higher than at the beginning of the year on October 1, 2013.
Overall, Gooch said is it well-positioned to respond to increases in demand for its products using existing manufacturing facilities and resources.
During the period the company acquired Spanoptic Ltd, a Scotland-based manufacturer of precision optics, and immediately began its integration with its Somerset-based precision optics business.
The firm did not disclose the purchase price but said integration has progressed well and has been well-received by customers, all of whom have been retained. Gooch also has begun to develop a good relationship with Spanoptic's Chinese supplier and partners.
More recently the company acquired Constelex Technology Enablers Ltd, a small Athens-based developer of optical fibre amplifiers for satellite communications applications.
Again, the firm did not disclose the purchase fee but said the team is already functionally integrated within Gooch's Torquay-based Systems Technology Group and will be relocating to the Torquay facility in the coming months.
The stock was trading at 740.00 pence Wednesday afternoon, up 6.50 pence or 0.9%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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