5th Oct 2021 20:40
Gooch & Housego PLC - Ilminster, Somerset-based maker of optical components - Says trading performance in the second half of the financial year has been good due to further strengthening in end market demand, despite currency pressures and some supply chain constraints. Says it has entered its new financial year with a robust order book. As at September 30, it stood at GBP97.8 million, up 5.6% from GBP92.4 million at the the same time in 2020. Says strong revenue performance in the second half of the financial year together with the benefits of streamlining programme means annual profit expected to be slightly ahead of management's previous expectations.
Chief Executive Officer Mark Webster says: "Trading in the second half was strong, reflecting the sustained recovery in industrial and medical lasers and the robust performance of telecommunications and life sciences. Our ambitious programme to streamline our manufacturing sites is on track to deliver the previously announced full year profit improvements.
"There has been some 'drag' on performance due to currency headwinds, self isolation and supply chain issues. It is though a far better business environment than last year and we believe these factors will improve over time."
Current stock price: 1,295.00 pence
Year-to-date change: up 8.8%
By Arvind Bhunjun; [email protected]
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