AIM-listed photonics firm Gooch & Housego (LON:GHH) posted an impressive set of results for the year to 30 September. The group’s performance was helped by a big increase in demand from the aerospace and defence sector.
Strong underlying growth
Group revenue was up 10.7% to £150 million, with 5.6% like-for-like growth and the rest from acquisitions. Drilling into the numbers, defence revenue led the increase with a 52% jump to £52.4 million More than half the growth came from underlying operations, showing the group’s strong market position.
Looking ahead, the order book was up 36% to £142 million with over 80% billable in the current FY. This was complemented by a strong existing pipeline, again thanks to defence customers.
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:
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