GOOCH & HOUSEGO (GHH) – Technology
| Price: 525p +2.5% | P/E: 21.1x |
| Market Cap: £140m | 1 Yield: 2.6% |
AIM-listed photonics firm Gooch & Housego posted an impressive set of results for the year to 30 September helped by a big increase in demand from the aerospace and defence sector.
Group revenue was up 10.7% to £150 million, with 5.6% like-for-like growth and the rest from acquisitions, but drilling into the numbers it was defence revenue which led the increase with a 52% jump to £52.4 million, with more than half the growth coming from underlying operations.
Looking ahead, the order book closed at £142 million up 36% with over 80% billable in the current financial year complemented by a strong existing pipeline, again thanks to defence customers.
Our View
Due to its size G&H has flown under our radar until now, but based on today’s results and the market reaction we’ll try to take a closer look in coming weeks.
Read the press release here: https://gandh.com/investors
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