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Gooch & Housego trades in line with expectations despite
2nd Sep 2020 09:50
(Sharecast News) - Photonic components and systems manufacturer Gooch & Housego said on Wednesday that overall trading for the year ended 30 September had remained in line with expectations.
Gooch & Housego said its manufacturing locations across the UK, US and China were now fully open, with trading levels in June and July reflecting its improved capacity thanks some its larger customers reopening their own manufacturing sites.
The AIM-listed group, which highlighted that it remained in "a good financial position" with a strong balance sheet and improved liquidity levels, did acknowledge that significant global uncertainty remained due to the Covid-19 pandemic but stated its telecommunications, A&D and life sciences businesses had "held up well" during the period.
Chief executive Mark Webster said: "While there remains considerable short term economic uncertainty our order book remains robust, the company's balance sheet has strengthened during the period and we have continued to invest in our high priority R&D targets.
"The Covid-19 emergency has validated G&H's long term strategy of diversification and moving up the value chain. We will continue to pursue this policy through internal investment and where appropriate, acquisitions."
As of 0945 BST, G&H shares were flat on 1,020.0p.
Gooch & Housego said its manufacturing locations across the UK, US and China were now fully open, with trading levels in June and July reflecting its improved capacity thanks some its larger customers reopening their own manufacturing sites.
The AIM-listed group, which highlighted that it remained in "a good financial position" with a strong balance sheet and improved liquidity levels, did acknowledge that significant global uncertainty remained due to the Covid-19 pandemic but stated its telecommunications, A&D and life sciences businesses had "held up well" during the period.
Chief executive Mark Webster said: "While there remains considerable short term economic uncertainty our order book remains robust, the company's balance sheet has strengthened during the period and we have continued to invest in our high priority R&D targets.
"The Covid-19 emergency has validated G&H's long term strategy of diversification and moving up the value chain. We will continue to pursue this policy through internal investment and where appropriate, acquisitions."
As of 0945 BST, G&H shares were flat on 1,020.0p.