Gooch & Housego shares rise as order book grows; outlook optimistic

(Alliance News) - Gooch & Housego PLC told its annual general meeting on Monday the company is "strongly" positioned in attractive growth markets, as it reported order book growth.

The Somerset, England-based photonics components and systems manufacturer said its order book has increased by 21% to GBP126.4 million from GBP104.5 million as at September 30, when its financial year 2024 ended.

"The group continues to execute on its strategic objectives. Operational efficiency improvements are supporting the delivery of additional capacity from our own facilities and our contract manufacturing partners provide the group with further flexibility to respond efficiently to changes in customer demand", Gooch & Housego said.

It added that the integration of optical component manufacturer Phoenix Optical, which it bought in October, was proceeding to plan.

Gooch & Housego acquired Phoenix for up to GBP6.8 million, an initial GBP3.4 million in cash, plus up to the same again dependent on Phoenix's performance over three years.

Gooch at the time said the acquisition would accelerate its reach in the UK and European aerospace and defence markets.

Chief Executive Officer Charlie Peppiatt said Monday: "I am pleased to see the increase in the group's order book since the beginning of the year. It is clear the focus on delivering our strategic plan through improved customer experience, superior operational execution and value creating technology is starting to bear fruit. Whilst we are mindful of the uncertainty that new tariff regimes are introducing across several of our end markets, we remain positive that the group will deliver a significantly improved financial performance in FY2025. The group is strongly positioned in attractive growth markets and well placed to benefit as its industrial markets return to growth."

Gooch & Housego shares were up 4.1% to 458.90 pence each on Monday morning in London.

By Tom Budszus, Alliance News slot editor

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