Gooch & Housego revenue climbs as defence demand boosts orders

(Alliance News) - Gooch & Housego PLC on Thursday said revenue climbed in the first half of its financial year, helped by demand in the aerospace and defence market.

The Somerset, England-based photonic components & systems maker said revenue grew 16% to GBP81.9 million in the six months to the end of March from GBP70.8 million a year prior. Revenue was up 9.1% on an organic, constant currency basis.

Gooch & Housego said demand from the aerospace and defence market "has continued to be strong and is growing".

It noted that revenue from the industrial laser and semiconductor markets improved during the first half of the year, with "encouraging signs" that the recovery in semiconductors has started.

Gooch & Housego said it continues to expect a "sustained recovery" in these markets.

During the first half, its order book grew 18% to GBP167.3 million at the end of March from GBP142.3 million at the end of September.

It said the level of enquiries for its products and services remains high, particularly from new and existing defence equipment customers.

The integration of Global Photonics and Phoenix Optical is "proceeding to plan" and helping to secure new orders from defence customers in the US, UK and Europe, Gooch & Housego added.

The firm noted that it has managed the re-sourcing of key raw materials where availability has been restricted in response to US tariffs. It noted that supply is "lumpy and intermittent" but it remains vigilant.

At the end of March, net debt excluding lease liabilities was GBP37.0 million, compared to GBP24.1 million a year prior. The company said it has GBP15.7 million available to draw upon to fund future growth.

Gooch & Housego said it continues to expect trading for financial 2026 to be in line with management's expectations.

"The strong order book growth in the period demonstrates the increased confidence our customers have in G&H to provide them with their most complex photonics and optical systems requirements," said Chief Executive Officer Charlie Peppiatt.

"Whilst there are significant macroeconomic uncertainties, the recovery in our Industrial and Semiconductor markets along with the strong growth in demand from our Aerospace and Defence markets should allow the group to make further positive progress on our journey to mid-teens returns over the medium term."

Shares in Gooch & Housego were up 6.6% at 870.00 pence on Thursday morning in London.

By Michael Hennessey, Alliance News reporter

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