Extra manufacturing capacity boosts Gooch & Housego
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Specialist optical components and systems manufacturer Gooch & Housego said today (5 October) that an increase in manufacturing capacity had enabled it to meet the growing needs of its customers and begin to reduce lead times despite a growing order book.
In a trading update, the company announced that its financial results for the year ended 30 September 2010 would be "comfortably ahead of market expectations". The detailed results will be announced on 30 November.
Ilminster, Somerset-based Gooch & Housego said continued demand for its products from across principal market sectors, combined with the implementation of initiatives to boost manufacturing capacity, had enabled shipments to be maintained at higher than expected levels throughout the three months to September.
At the end of the financial year, the order book stood at £23.5 million, up from £22.1 million at the end of June and £15.5 million at the start of the year.
Chief Executive Gareth Jones said the past year had seen a full recovery in the company's core industrial laser sector and an encouraging increase in demand from its target aerospace & defence and life sciences markets with the result that the company was a stronger, more diversified and resilient business than it had been a year ago. "Thanks to a magnificent response by the entire team we have managed to increase output to meet record levels of demand. Whilst we continue to be aware of the potential downside risks in the global economy, we look forward to starting 2011 with a record order book," he went on.