Gooch & Housego PLC
LSE:GHH
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Gooch & Housego PLC
LSE:GHH
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Gooch & Housego PLC
Gooch & Housego Plc is a photonics technology business, which researches, designs, engineers, and manufactures advanced photonic systems, components and instrumentation for applications in the Aerospace and Defence, Industrial, Life Sciences, and Scientific Research sectors. The company is headquartered in Ilminster, Somerset and currently employs 908 full-time employees. The firm's products include acousto-optic modulators, deflectors, frequency shifters, pockels cells, pockels cell drivers, lithium, optical windows and flats, waveplates, ring laser gyroscope components, infrared optics, optical domes, precision prisms, corner cubes and precision lenses. The firm's market sectors include Aerospace and Defense, Industrial and Telecom and Life Sciences. Aerospace & Defense includes target designation and range finding; guidance and navigation; countermeasures; space photonics, and surveillance, displays and secure communications. The Industrial and Telecom sector is a provider of advanced optics, fiber optics, acousto-optics, and electro-optics. The Life sciences business includes optical coherence tomography, laser surgery, microscopy and development and manufacturing of medical and diagnostic devices.
Gooch & Housego Plc is a photonics technology business, which researches, designs, engineers, and manufactures advanced photonic systems, components and instrumentation for applications in the Aerospace and Defence, Industrial, Life Sciences, and Scientific Research sectors. The company is headquartered in Ilminster, Somerset and currently employs 908 full-time employees. The firm's products include acousto-optic modulators, deflectors, frequency shifters, pockels cells, pockels cell drivers, lithium, optical windows and flats, waveplates, ring laser gyroscope components, infrared optics, optical domes, precision prisms, corner cubes and precision lenses. The firm's market sectors include Aerospace and Defense, Industrial and Telecom and Life Sciences. Aerospace & Defense includes target designation and range finding; guidance and navigation; countermeasures; space photonics, and surveillance, displays and secure communications. The Industrial and Telecom sector is a provider of advanced optics, fiber optics, acousto-optics, and electro-optics. The Life sciences business includes optical coherence tomography, laser surgery, microscopy and development and manufacturing of medical and diagnostic devices.
Revenue Growth: G&H reported strong revenue growth of 31.7% year-over-year in H1 2023, reaching GBP 71.3 million, with all three end markets contributing.
Profitability: Adjusted operating profit increased by 32.9% to GBP 5.2 million, and the adjusted operating margin reached 7.4%.
Order Book & Outlook: The order book ended at GBP 124.4 million, down from the year-end record but still historically high; full-year outlook remains unchanged.
Strategic Shift: Management announced a major strategy refresh focused on earlier outsourcing to contract manufacturing, portfolio rationalization, platform solutions, and targeting mid-teen returns.
Cost Inflation & Pricing: Input cost inflation continues, but the business is passing on higher costs through price increases, albeit with some lag.
Cash Generation & Investment: Operating cash flow improved to GBP 6 million; the company continued investing in inventory and capital equipment.
ESG Progress: G&H achieved a 13.4% reduction in greenhouse gas emissions intensity and is on track for net zero Scope 1 and 2 emissions by 2035.
Dividend: An interim dividend of 4.8p was proposed, reflecting confidence in the outlook.
