Gooch & Housego first-half results meet its expectations amid 'strong' demand for fibre optic
Source - SMW
Gooch & Housego, a manufacturer of photonic components & systems, said its half-year results met its expectations amid mixed performance as demand for components continued to decline while fibre optic and hi-reliability fibre couplers demand remained 'strong.'
The downturn in demand for critical components -- used in industrial lasers for microelectronic manufacturing -- particularly from China, had been exacerbated by the US/China trade war, the company said.
But it continued to expect the industrial laser market would pick up during the second half of the financial year.
The company said it would invest in further capacity to take advantage of its 'market leading' position in Hi-reliability fibre couplers, which it believed were about to experience a multi-year growth phase.
The benefits of the first phase of this growth should become apparent in the second half of the current financial year, the company added.
The company was set to hold its Capital Markets Day for institutional investors and analysts later today.
'Management continues to expect full year trading to be in line with the guidance given in our trading update dated 20 February 2019, including a significant second half weighting,' Gooch & Housego said.