Gooch & Housego Ups FY Management Views On Recovery, Growth

13th Jul 2010 07:26

LONDON (Dow Jones)--Gooch & Housego PLC (GHH.LN), a specialist manufacturer of optical components and systems, said Tuesday management has increased its expectations for the year ending Sep. 30, due to a sustained recovery in core markets and growth in new business. MAIN FACTS: -Growth, particularly in the aerospace & defense sector, has resulted in record order book levels and put considerable pressure on manufacturing capacity. -A number of initiatives to significantly boost manufacturing capacity and reduce lead times were implemented in the second quarter. -These initiatives have now begun to take effect, with increased output and falling lead times, despite continuing high levels of order intake. -The order book at the end of June stood at GBP22.1 million, an 11% increase on the figure at the end of March. -Shares closed Monday at 223.5 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires July 13, 2010 02:26 ET (06:26 GMT)