LONDON (ShareCast) - - Trading in line with expectations
- Continuing streamling operations
- Order book up nine per cent from start of year
AIM-listed optical components and systems manufacturer Gooch and Housego said trading in the last six months was in line with management expectations, following good growth in its main markets and as it pushes ahead with streamlining its operations.
"With good customer engagement across its principal markets and an encouraging pipeline of opportunities G&H is well positioned for growth despite overall market conditions remaining neutral, as reflected in the order book, which is 9% higher than at the beginning of the year," it said in a company update.
The group, which makes fibre optic solutions such as consumer electronics to satellite communications, said it has been investing in research and development to help accelerate projects and expand its Systems Technology Group (STG).
STG has recently won contracts and funding from the European Space Agency, the European Union as well as from mainstream commercial customers.
Otherwise, as part of its streamlining operations, the group confirmed that at the end of March 2014, it closed its small R&D operation in New Jersey and transferred the equipment and technology to its facility in Orlando.
"The company will continue to explore ways of delivering further operational efficiency," it said.
Chief Executive Gareth Jones said: "By focusing on sub-system opportunities we aim to leverage our excellence in photonic components to deliver growth and add value in a somewhat lacklustre market, while delivering margin improvements through enhanced operational efficiency. These ongoing initiatives will help underpin G&H's growth and future prospects."
CJ
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