Gooch & Housego shares up as hails order book, higher customer demand
Gooch & Housego PLC on Friday said capacity is being expanded in response to increased demand, noting it was ‘strongly’ positioned in ‘attractive’ growth markets.
Gooch & Housego shares jumped 7.9% to 816.00 pence each on Friday afternoon in London. Its shares are 76% higher than a year ago.
The Somerset, England-based photonic components & systems maker said its order book has ‘grown strongly’ since the start of its financial year in October, now sitting at £168.3 million, up 18% from £142.3 million at the end of September.
Gooch said that capacity is being expanded at Global Photonics and Phoenix Optical in response to increased demand, while the existing footprint at both sites was in line with the year’s expected capital expenditure.
The company highlighted a further increase in demand from aerospace & defence customers in the US and Europe for its precision optical systems and advanced imaging solutions for military platforms.
Further, net debt excluding lease liabilities has reduced to £28.0 million at the end of January from £29.9 million in September.
Chief Executive Officer Charlie Peppiatt said: ‘The strong order book growth since the start of the new financial year increases our confidence in the group’s full year out-turn. The strategic acquisitions of Global Photonics and Phoenix Optical in FY2025 have delivered strong customer demand, such that capacity at both sites is being increased. We continue to remain focused on operational improvements and, whilst some macro-economic uncertainty remains, we are making good progress in achieving our strategic ambition of delivering mid-teen returns on sales in the medium term.’
The company said: ‘The group is strongly positioned in attractive growth markets and continues to make progress in the delivery of its strategy. Despite some uncertainty in the macro-economic environment and potential supply chain constraints, the group is benefiting from strong growth in its aerospace & defence order book and an expanding pipeline of potentially large, multi-year contracts. Meanwhile, the outlook is improving in its other markets, particularly industrial laser and semiconductor.’
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