REG - Gooch & Housego PLC - AGM Trading Update

Gooch & HousegoAnnouncement

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RNS Number : 5965U  Gooch & Housego PLC  27 February 2026

 

     27 February 2026

 

Gooch & Housego PLC

("G&H" or the "Company" or the "Group")

 

AGM Trading Update

 

"Strong order book growth strengthens confidence in full year out-turn"

 

Gooch & Housego PLC (AIM: GHH), the specialist manufacturer of photonic
components & systems, will hold its Annual General Meeting at 11.00 a.m.
GMT today at the Company's headquarters in Ilminster, Somerset.

 

Since the beginning of the new financial year on 1 October 2025 the Group's
order book has grown strongly and is currently at £168.3m (30 September 2025:
£142.3m), reflecting a further increase in demand from A&D customers in
the US and Europe for G&H's precision optics, optical systems and advanced
imaging solutions for military platforms. Demand at Global Photonics and
Phoenix Optical, both of which were acquired in FY2025, has been strong.

 

Demand overall in G&H's Industrial markets has improved since the start of
the new financial year, and there are encouraging signs that the recovery in
semiconductor manufacture is now underway. We continue to expect a sustained
recovery in industrial laser and semiconductor markets in the second half of
2026. In Life Sciences, the supply chain challenges referenced in our full
year results in December 2025 in connection with 'last time buy' orders for
Pockels cells have now been resolved and we expect production to ramp in H2
FY2026 and thus a greater H2 weighting to our FY2026 results than in FY2025.
 

 

The Group continues to execute on its strategic objectives, which are focused
on delivering mid-teen returns on sales in the medium term. We continue to
focus on operational improvements, capacity expansion and management of supply
chain disruption to ensure we execute successfully on the increased customer
demand for our products and photonic solutions. The integration into the Group
of Global Photonics and Phoenix Optical, acquired in May 2025 and October 2024
respectively, is progressing to plan. Capacity is being expanded at these two
businesses in response to increased demand, within the existing footprint at
both sites and in line with the year's expected capital expenditure.

 

The Group's net debt has reduced in the year-to-date. A reduction in working
capital, partially offset by capital expenditure and payment of deferred
consideration, meant that net debt excluding lease liabilities at the end of
January 2026 reduced to £28.0m (Sept 2025: £29.9m).

 

Outlook

 

The Group is strongly positioned in attractive growth markets and continues to
make progress in the delivery of its strategy. Despite some uncertainty in the
macro-economic environment and potential supply chain constraints, the Group
is benefiting from strong growth in its A&D order book and an expanding
pipeline of potentially large, multi-year contracts. Meanwhile, the outlook is
improving in its other markets, particularly industrial laser and
semiconductor. The Board's expectations for the current year remain unchanged,
and are underpinned by the order book, self-help measures and new business
pipeline, whilst confidence in the medium-term potential of the Group
continues to grow.

 

Charlie Peppiatt, Chief Executive Officer of Gooch and Housego, commented:

"The strong order book growth since the start of the new financial year
increases our confidence in the Group's full year out-turn. The strategic
acquisitions of Global Photonics and Phoenix Optical in FY2025 have delivered
strong customer demand, such that capacity at both sites is being increased.
We continue to remain focused on operational improvements and, whilst some
macro-economic uncertainty remains, we are making good progress in achieving
our strategic ambition of delivering mid-teen returns on sales in the medium
term."

 

For further information please contact:

 

 Charlie Peppiatt, Chief Executive Officer                  Gooch & Housego PLC      +44 (0) 1460 256440

 Mark Court / Sophie Wills / Abigail Gilchrist              Burson Buchanan          +44 (0) 20 7466 5000

 G&H@buchanan.uk.com (mailto:G&H@buchanan.uk.com)

 Christopher Baird / David Anderson                         Investec Bank plc        +44 (0) 20 7597 5970

 

 

Notes to editors

 

1.     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 company researches, 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.

 

2.     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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