Interim results were in line with previously reduced expectations, illustrating lower levels of demand in the Industrial division and some effects of COVID-19 in Q2. Profitability was affected by reduced overhead recovery and a lower mix of high margin industrial lasers as well as R&D expensed in the A&D division. No change to 2020 forecasts, with an uptick expected in H2, backed by a solid order book. While the current year P/E looks high at 35x, we anticipate a good profit recovery
02 Jun 2020
Gooch & Housego - In-line interim results, looking for an uptick in H2
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Gooch & Housego - In-line interim results, looking for an uptick in H2
Gooch & Housego PLC (GHH:LON) | 523 0 0.0% | Mkt Cap: 134.9m
- Published:
02 Jun 2020 -
Author:
David Buxton -
Pages:
6
Interim results were in line with previously reduced expectations, illustrating lower levels of demand in the Industrial division and some effects of COVID-19 in Q2. Profitability was affected by reduced overhead recovery and a lower mix of high margin industrial lasers as well as R&D expensed in the A&D division. No change to 2020 forecasts, with an uptick expected in H2, backed by a solid order book. While the current year P/E looks high at 35x, we anticipate a good profit recovery