Gooch & Housego confirms full year targets

AIM-listed Gooch & Housego, a manufacturer of optical components and systems, confirmed it had traded in line with full year expectations thanks to improved demand for industrial lasers and fibre-based products.

Chief executive Mark Webster said the company was “well placed for future growth” after performing in line with expectations for the financial year, while remaining vigilant to global macroeconomic trends in its key markets.

In a trading update for the year ended 30 September, a period when the company moved into the aerospace and defence sector via two acquisitions, improved demand for industrial lasers led to a stronger second half that than the previous year.

Since June there has been high demand with record orders for fibre-based products, which the company fulfilled thanks to further investment in infrastructure and equipment.

Increased demand for the fibre based business was reflected in a £52.8m order book at the end of September, an increase of 45.5% from last year, or a 10.5% increase excluding the impact from acquisitions.

Webster added: “We remain focused on delivering our financial goals through our twin strategies of diversification and moving up the value chain, whilst underpinning our operational performance through continued investment in our ongoing performance improvement plan."

The company will publish full year results on 29 November.

Shares in Gooch & Housego were up 2.78% to 1,015p at 0855 BST, close to its record highs set in the last two months.