Somerset engineering firm enjoys strong second half of the year
Advanced engineering firm Gooch and Housego says trading in the second half of the year has been strong.
The Somerset firm which makes photonic components and systems has published a trading update.
The company said trading in the second half of the financial year has been strong, continuing the positive trends reported in its interim results.
Revenues for the financial year have marginally exceeded market expectations.
In light of the positive trading performance the board expects the strong revenue performance to translate into a full year adjusted pre-tax profit above current market expectations.
The integration of GS Optics and Artemis into the G&H Group is proceeding to plan.
The exploitation of commercial synergies between the newly acquired Artemis business and the rest of the business is already underway.
At the end of September the group’s order book stood at £124.9m
Charlie Peppiatt, chief executive of Gooch and Housego, said: “I am delighted with the positive progress the group has made. Our operational performance has shown sustained improvement with on time delivery and lead times both improving significantly.
“The integration of GS Optics and Artemis into the G&H Group is on track. Both businesses are already benefitting from the additional market access and investment that being part of G&H brings.
“The detailed activities supporting the delivery of our recently announced strategic plan are now in place and support our budgeted plans for 2024.”