Gooch & Housego sees improved levels of laser demand

Gooch & Housego stated it had seen continued high levels of demand for fibre optics, hi- reliability fibre couplers and its A&D capabilities, while life sciences also continued to "grow strongly" and medical diagnostics demonstrated good growth after initially being affected by the reduction in non-Covid-19 procedures in 2020.

The AIM-listed group said Asian markets led the recovery in industrial lasers, though it noted that US and European markets were also now demonstrating "encouraging trends".

Gooch & Housego highlighted that its order book was at £95.0m at the end of January, an increase of 1.0%, or 3.3% at constant currency, year-on-year.

Chief executive Mark Webster said: "Good progress has been made on the first phase of streamlining our manufacturing base. In addition, two further sites have started to move their manufacturing to other established sites.

"The challenge of the pandemic has validated our long term strategic goals of diversification and moving up the value chain. We intend to vigorously pursue these goals through internal investment and where appropriate, acquisitions."

As of 0940 GMT, Gooch & Housego shares were up 3.66% at 1,275.0p.