2019 interim results released

“Trading in the last six months has reflected trends previously reported. G&H has long been aware of the risks associated with the cyclical nature of the microelectronics sector and more recently the continued impact of the US/ China trade dispute. Our industrial laser order book has increased since our last update, but we now forecast the industrial laser business will not return to ‘normal’ levels in FY 2019.

“Technical innovation in microelectronic, semiconductor and industrial manufacturing, coupled with our market leading position means we expect supply of critical components to industrial lasers to be an important source of growth for G&H for the foreseeable future.

“The non-industrial laser business is expected to perform in line with management’s expectations. Our fibre optics business generally is performing strongly and in particular we are investing in further capacity to take advantage of the multi-year strong demand growth for hi-reliability fibre couplers.

“We remain confident in the potential of the industrial laser sector and our other markets to provide attractive long term growth.

“G&H remains committed to further diversification and moving up the value chain. We will continue to invest in R&D and where appropriate make acquisitions in order to meet these strategic objectives.”