Gooch & Housego gears up manufacturing capacity and boosts profits prospects
Gooch & Housego – the specialist manufacturer of precision optical components and sub-assemblies, as well as research-grade light measurement instrumentation and services – today (13 July) announced that it expects to generate higher than expected sales and profits for the year enfing 30 September and has boosted its manufacturing capacity to cope.
In a trading update, the Ilminster, Somerset-based company said that a sustained recovery in core markets and growth in new business, particularly in the aerospace and defence sector, had resulted in record order book levels and put considerable pressure on manufacturing capacity.
A number of initiatives to significantly boost manufacturing capacity and reduce leadtimes were implemented in the second quarter. These initiatives had now begun to take effect, with increased output and falling leadtimes, despite continuing high levels of order intake. The order book at the end of June stood at £22.1 million, an 11% increase on the figure at the end of March.
The increased output supported by the strong order book has led to an increase in management's original expectations for revenues and profits for the year.
