Half Year Trading Update
Summary by AI BETAClose X
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For immediate release |
9 April 2026 |
Gooch & Housego PLC
('G&H' or the 'Group')
H1 2026 Trading Update
and
Notice of Interim Results
'Trading in line with management's expectations'
Gooch & Housego PLC (AIM: GHH), the specialist manufacturer of photonic components and systems, is pleased to provide the following trading update for the six-months ended 31 March 2026 ('H1 2026' or the 'period').
Trading
Revenue for H1 2026 was £81.9 million (H1 2025: £70.8 million), an increase of 9.1% on an organic, constant currency basis. Demand from the Group's Aerospace and Defence market has continued to be strong and is growing. Revenue from the Group's industrial laser and semiconductor markets improved during H1 2026 with encouraging signs that the recovery in semiconductor is now underway. We continue to expect a sustained recovery in these markets.
During H1 2026, the Group's order book increased to £167.3 million (30 September 2025: £142.3 million). The increase on a constant currency basis was 16.5%. The level of enquiries for the Group's products and services remains high, especially from both existing and new defence equipment customers, supported by the broader capability and capacity now available following the acquisitions of Global Photonics and Phoenix Optical during the last financial year.
The integration of these two acquisitions is proceeding to plan, with the combined capabilities of both as part of G&H being critical to help secure new orders from Defence customers in the US, UK and Europe. Capacity is being expanded at both businesses in response to significantly increased demand, utilising the existing footprint at each site and in line with the year's expected capital expenditure.
The Group has proactively managed the re-sourcing of key raw materials used across several of its production processes where availability has been restricted by retaliatory measures from certain nations in response to US tariffs. Despite the situation remaining fluid, with supply lumpy and intermittent, the Group has navigated these challenges in H1 2026 and remains vigilant around supply chain, operations and inventory planning going forwards.
The Group continues to maintain a strong financial position with a robust balance sheet. As at 31 March 2026, net debt excluding lease liabilities was £37.0 million (31 March 2025: £24.1 million and 30 September 2025: £29.9 million) and the Group had £15.7 million available to draw upon to fund its future growth activities.
The Group continues to expect trading for FY 2026 to be in line with management's expectations.
Appointment of Chief Financial Officer
As previously announced, James Corte, an experienced finance executive with a track record in the industrial and defence sectors, has today joined the Group as Chief Financial Officer and Executive Director.
Notice of Interim Results
The Group will announce its interim results for the six months ended 31 March 2026 on 2 June 2026.
Charlie Peppiatt, Chief Executive Officer of Gooch & Housego, commented:
"I am pleased with the positive progress that G&H has made in the first half of the financial year. The strong order book growth in the period demonstrates the increased confidence our customers have in G&H to provide them with their most complex photonics and optical systems requirements. Whilst there are significant macroeconomic uncertainties, the recovery in our Industrial and Semiconductor markets along with the strong growth in demand from our Aerospace and Defence markets should allow the Group to make further positive progress on our journey to mid-teens returns over the medium term."
- Ends -
For further information, please contact:
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Charlie Peppiatt, Chief Executive Officer James Corte, Chief Financial Officer |
Gooch & Housego PLC |
+44 (0)1460 256440 |
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Henry Harrison-Topham / Sophie Wills / Abigail Gilchrist |
Burson Buchanan |
+44 (0)20 7466 5000 |
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Christopher Baird / David Anderson |
Investec Bank plc |
+44 (0)20 7597 5970 |
Notes to editors
Gooch & Housego is a photonics technology business headquartered in Ilminster, Somerset, UK with operations in the USA and Europe. A world leader in its field, the Group designs, engineers and manufactures advanced photonic systems, components and instrumentation for applications in the Aerospace & Defence, Industrial, Life Sciences and Scientific Research sectors. World leading design, development and manufacturing expertise is offered across a broad range of complementary technologies.
For more information, please visit www.gandh.com.
All financial information included in this announcement is sourced from unaudited management accounts and excludes any specific items. This announcement contains certain forward-looking statements that are based on management's current expectations or beliefs as well as assumptions about future events. These are subject to risk factors associated with, amongst other things, the economic and business circumstances occurring from time to time in the countries and sectors in which G&H operates. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a wide range of variables which could cause actual results, and G&H's plans and objectives, to differ materially from those currently anticipated or implied in the forward-looking statements. Investors should not place undue reliance on any such statements. Nothing in this announcement should be construed as a profit forecast.
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