Gooch & Housego (AIM:GHH) lovely results and lovely business…but pricey?
The specialist manufacturer of optical components and systems has announced cracking full year results. This business manufactures terrific products but the rating now seems quite rich, especially in a sector where peers are struggling, although quality always comes at a premium and the healthy cash balance means a nice cushion of support.
Gooch & Housego is a global leader in photonics technology. The Group’s expertise extends from research through the development of prototypes to volume manufacturing and enables innovation and effective manufacturing in the aerospace & defence, industrial, life sciences and scientific research sectors. Group revenue for the year ending September 2015 was up 12% at a record £78.7m or up 8% on a constant currency basis. Adjusted operating profit was up 9.4% at £13.1m with margins of 16.6%. This was marginally down on the 17.1% in 2014 due to lower than expected performance from the Instrumentation business and additional costs from…