8th Apr 2025 14:46
(Alliance News) - Gooch & Housego PLC on Tuesday reported an increase in its order book as it expressed confidence in achieving further progress over the medium term.
The Somerset, England-based group, which operates in the US and Europe, specialises in the manufacturing of photonic components and systems.
Gooch & Housego said revenue for the six months ended March 31 increased 11% to GBP70.8 million compared to GBP63.6 million the prior year.
The firm attributed this increase to strong demand from its aerospace & defence and life sciences markets, as well as noting revenue growth in fibre optic products used in subsea data cable networks.
Gooch & Housego shares rose 7.8% to 399.00 pence in London on Tuesday afternoon.
The firm's March 31 order book increased 16% to GBP121.5 million from GBP104.5 million at September 30 last year due to Gooch & Housego acquiring Phoenix Optical Ltd, an optical supplier based in Denbighshire, Wales. The acquisition brought approximately GBP7 million of this order book increase.
Gooch & Housego added that the acquisition has resulted in the firm securing new customer orders as a result of their newly combined capabilities.
According to Gooch & Housego, "it is too early to be definitive" on the net impact of the rapidly evolving tariff arrangements being implemented by the US administration and the potential retaliatory actions of other nations.
The firm will announce its interim results on June 3.
Gooch & Housego is expecting full-year trading to be in line with management's expectations.
Chief Executive Officer Charlie Peppiatt said: "I am pleased with the progression of the group's order book in the period, which demonstrates the growing confidence our customers have in G&H to provide them with their most complex photonic systems needs."
He added: "Whilst there remains significant uncertainty in our industrial markets we are confident that growing demand from the group's other markets will allow us to make further progress in the balance of the financial year on our journey to mid-teens returns over the medium term."
By Olivia Mason-Myhill, Alliance News reporter
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