We suggested in our September research note* that investors wait for the December earnings statement and early insights from the new CEO. Despite a record order book Gooch is still adjusting to shortages of skilled employees and supply chain constraints. As guided by management, we cut our profit estimates reflecting ongoing expensed investments. FY23e PBT falls by c.25% to £9m, and FY24e PBT is cut by c.18% to £12m. Net debt is likely to remain higher in FY23e (c.£13m) before falling in FY24e ( ....
14 Dec 2022
Gooch & Housego plc (GHH LN) - More focused, better value
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Gooch & Housego plc (GHH LN) - More focused, better value
Gooch & Housego PLC (GHH:LON) | 546 -32.8 (-1.1%) | Mkt Cap: 140.8m
- Published:
14 Dec 2022 -
Author:
Robin Byde -
Pages:
11
We suggested in our September research note* that investors wait for the December earnings statement and early insights from the new CEO. Despite a record order book Gooch is still adjusting to shortages of skilled employees and supply chain constraints. As guided by management, we cut our profit estimates reflecting ongoing expensed investments. FY23e PBT falls by c.25% to £9m, and FY24e PBT is cut by c.18% to £12m. Net debt is likely to remain higher in FY23e (c.£13m) before falling in FY24e ( ....