GOOCH & HOUSEGO PLC - Results for the six months ended 31 March 2026

Gooch & Housego PLC (G&H) delivered a strong H1 2026 investor update, reporting robust revenue growth, expanding margins, and a record order book despite ongoing macroeconomic and geopolitical challenges. Revenue increased 15.5% to £81.9 million, while adjusted operating profit rose 16.9% to £7.2 million, reflecting strong demand across aerospace and defence markets and continued execution of the company’s growth strategy. The order book reached a record £167.3 million, providing enhanced revenue visibility and near-full coverage for FY2026. Aerospace and defence remained the key growth engine, with revenues rising more than 50% and profitability improving significantly as operational efficiencies, capacity expansion, and acquisition synergies from Phoenix Optical and Global Photonics continued to deliver results. The company also highlighted encouraging signs of recovery in semiconductor markets and expects life sciences performance to normalize in the second half. Strategic investment in R&D, advanced photonics technologies, and manufacturing capabilities supports a pipeline expected to generate over £50 million of future margin-accretive revenue. While supply chain challenges, particularly around germanium availability, remain a near-term risk, management reaffirmed full-year expectations and expressed confidence in delivering sustainable profitable growth. Supported by strong cash generation, a healthy balance sheet, an unchanged interim dividend, and growing exposure to structural growth markets including defence, semiconductors, data communications, and life sciences, G&H remains focused on accelerating margin expansion and achieving mid-teen returns over the medium term.