Business
AGM Trading Update
AGM Trading Update.
About this update from Gooch & Housego Plc
[{"type":"text","content":"\n\n \n\n\n\n\n \n\n\n24 February 2025\n\n\n\n\n \nGooch & Housego PLC\n(\"G&H\" or the \"Company\" or the \"Group\")\n \nAGM Trading Update\n \n\"Further order book growth underpins improving trading performance\"\n \n \nGooch & Housego PLC (AIM: GHH), the specialist manufacturer of photonic components & systems, will hold its Annual General Meeting at 11.00 a.m. today at the Company's headquarters in Ilminster, Somerset.\n \nSince the beginning of the financial year the Group's order book, including Phoenix Optical (\"Phoenix\") acquired at the end of October 2024, has increased to £126.4m (30 September 2024: £104.5m) supported by strong order intake for medical diagnostic instrument programmes and new orders for defence optics and subsea data networks. The Group is also responding to a growing number of requests from our A&D customers for high value quotations for periscope, sighting and countermeasure systems.\n \nThe Group continues to execute on its strategic objectives. Operational efficiency improvements are supporting the delivery of additional capacity from our own facilities and our contract manufacturing partners provide the Group with further flexibility to respond efficiently to changes in customer demand.\n \nThe integration of Phoenix is proceeding to plan. The business has increased the size of its order book since joining G&H reflecting increased confidence from its customers who are seeing Phoenix's ability to service additional levels of demand thanks to the operational support that the Group is able to provide. We continue to monitor the market for further bolt-on acquisition opportunities, in line with the Board's strict criteria, to accelerate our sustainable margin growth strategy.\n \nThe Group is closely monitoring the impact of new tariffs being implemented by the US administration and the retaliatory responses from the countries affected. Whilst the Group has low levels of direct procurement into its US facilities from China, Mexico and Canada there may be some indirect inflationary cost base impacts. We intend to pass those on to our customers in the form of price increases. We are also alert to any potential supply chain disruptions caused by China limiting the export of certain materials that are used in the manufacture ...