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Front cover of the Gooch & Housego Interim Report from March 2020. The design features the company's logo and tagline "Changing the world with photonics" at the top. The central area is decorated with a mosaic of hexagonal and triangular shapes, containing images of photonics-related applications including circuit boards, optical components, wind turbines, and scientific instruments. The geometric background blends shades of blue, grey, and pink. The report title is written at the bottom in blue text.©️ G&H

FY20 interim report released

Investors

Mark Webster, Chief Executive Officer of Gooch & Housego, commented:

“Trading in the last six months has reflected previously reported trends and the more recent impact of the COVID-19 emergency.

“In general Japan, South Korea and parts of China saw improved demand, but there was some order book push out in the USA and Europe. Western companies are now starting to reopen sites that were closed.

“G&H is proud that in the US most of our product lines were considered to be vital for essential services and national security enabling sites to stay open under “stay at home” orders. All UK sites remained open, but Torquay operated at reduced capacity in order to meet social distancing guidelines. Work is being carried out to enable a return to full capacity at the site by the end of FY2020.

“Measured cost reductions were put in place in the latter part of H1, enabling us to retain critical capabilities on a return to more “normal” trading conditions. Good progress has been made on the streamlining of our manufacturing base. Both of these initiatives will deliver significant future margin progression.

“The COVID-19 emergency has validated our long term policy of diversification and moving up the value chain. We will continue to pursue this policy through internal investment and, where appropriate, acquisitions.”

Read the interim report
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Presentation

View the FY20 interim results presentation

Investors

Investors

At Gooch & Housego, we create sustainable value by leveraging our products and capabilities to diversify into new markets.