Gooch & Housego (GHH) remains firmly in acquisitive mode. The optical components manufacturer has forked out $20m (£16m) to acquire US-based StingRay Optics, a manufacturer of optical and opto-mechanical subsystems for defence and commercial applications. The deal should initially add $7.7m to Gooch & Housego's top line, while management believes the acquisition will be "earnings enhancing in the first full year of ownership".
The group also confirmed that trading in the first four months of its current financial year has been solid, driven by activity in the telecommunications and industrial sectors. As a consequence, the order book stood at £60.4m, an increase of 65 per cent compared with the same time last year. Excluding the impact of acquisitions and foreign exchange this represents an increase of 19.4 per cent.
