Gooch & Housego PLC - Somerset-based maker of photonics components and systems - Says it has made good progress during the first four months of the current financial year ending on September 30, increasing its productive capacity ‘as a result of our refocused recruitment and operational improvement activities’. Order book stands at £129.3 million as at January 31, compared to £110.5 million on the same date a year earlier. Notes trading continues to be in line with expectations. Looking ahead, expects revenue to be more evenly balanced between the first and second halves of the financial year. It will announce its interim results in June.

Chief Executive Officer Charlie Peppiatt says: ‘I am pleased with the initial progress in FY23 from our initiatives to improve output, on-time delivery performance and lead times to meet customer expectations. We remain focused on further improvement across our production facilities as well as with our supply chain partners.’

In December, Gooch & Housego said it swung to an annual loss of £2.3 million for the year ended on September 30, from a profit of £4.7 million the year prior. Revenue edged up by 0.6% to £124.8 million, up from £124.1 million a year ago.

Current stock price: 525.00 pence, down 5.1% on Wednesday afternoon in London

12-month change: down 49%

Copyright 2023 Alliance News Ltd. All Rights Reserved.