Gooch & Housego Expects Strong Performance in Full-Year Results

By Elena Vardon

Gooch & Housego, the U.K. manufacturer of optical products, anticipates exceeding market expectations for its adjusted pretax profit in the full-year results. The company’s business momentum carried on into the second half of the year, resulting in a robust revenue performance.

While Gooch & Housego did not specify the exact figures for adjusted pretax profit and revenue for the year ending September 30, it had achieved £8.1 million ($9.8 million) and £124.8 million, respectively, in fiscal 2022. According to FactSet estimates, industry consensus forecasts project adjusted pretax profit of £9.3 million and revenue of £142.6 million for fiscal 2023.

As of September 30, the company’s order book stood at £124.9 million compared to £147.7 million in the previous year. Gooch & Housego expects the first half of fiscal 2024 to be impacted by destocking in certain sectors of its industrial market. However, it remains optimistic about the growth potential for its aerospace and defense and life sciences businesses.

Approximately 75% of the order book is attributed to deliveries in the new fiscal year, providing a solid foundation for trading.