3rd Oct 2023 15:06
Gooch & Housego PLC - Somerset, England-based manufacturer of photonic components & systems - Says trading in the second half of its financial year has been "strong" and as a result expects revenue for the full financial year to be "marginally" ahead of market expectations. Notes that industrial markets volumes of its fibre and acousto optic assemblies have grown, more than offsetting the effects of de-stocking by some customers. Demand for its hi reliability fibre couplers has been stable but expects demand to increase in the new financial year. Notes integration of GS Optics and Artemis is going to plan.
"I am delighted with the positive progress the group has made in [financial 2023]. Our operational performance has shown sustained improvement with on time delivery and lead times both improving significantly," says Chief Executive Charlie Peppiatt.
Gooch & Housego will announce its results for the year ended September 30 on December 5.
Current stock price: 544.00 pence, up 8.8% in London on Tuesday afternoon
12-month change: down 68%
By Heather Rydings, Alliance News senior economics reporter
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