Specialist manufacturer emerges from challenging year with momentum
A strong performance in the second half of the year helped specialist manufacturer Gooch & Housego edge ahead of last year’s revenues, in a challenging period that has included two profit warnings.
The Ilminster-headquartered business ended the financial year with pre-tax profits down 30%, to £4.2m. Revenues increased by £1m to £136m in the 12 months to September.
Gooch & Housego’s chief executive Charlie Peppiatt believes the photonic components maker has “made further positive progress in establishing strong foundations”.
He said: “Despite the challenges the group experienced in the first half of FY2024 due to reduced demand in our industrial and medical laser markets, G&H delivered a strong performance in the second half of the year underpinned by the solid demand for our Life Sciences and A&D products and also reflecting the significant operational improvements that have been made across the group.”
In October it acquired precision optics business Phoenix Optical in a deal worth up to £6.75m, which extended Gooch & Housego’s capabilities in its aerospace and defence markets.
