Final Results

Goodwin PLC
24 August 2001

Goodwin PLC - Final Results

To be released Friday 24 August 2001

Goodwin PLC today announces its preliminary results for the year to 30 April
2001.

Recovery in the oil and gas sector construction activities helped the Group
turnover increase by 20% and produced a pre-tax profit of £1,561,000.

The investment in capital plant, particularly machine tools, has enhanced our
ability to compete and the new year has started with a strong order book. The
Group is now in a good position to supply the power generation and energy
industries where demand has increased. Further penetration of overseas markets
has proved difficult due to the strength of sterling.



J. W. GOODWIN, Chairman

24th August, 2001





GOODWIN PLC

GROUP PROFIT AND LOSS ACCOUNT

for the year ended 30th April 2001




                                                                 2001      2000
                                                                 £000      £000

TURNOVER                                                       24,892    20,769

OPERATING PROFIT                                                1,882       553
Share of loss of associated undertaking                          (30)      (32)
Net interest payable                                            (291)     (217)

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION                   1,561       304
Tax on profit on ordinary activities                            (510)     (110)

PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION                    1,051       194
Minority interests - equity                                         5       (8)

PROFIT FOR THE FINANCIAL YEAR                                   1,056       186
Proposed ordinary dividend                                      (300)     (106)

RETAINED PROFIT FOR THE FINANCIAL PERIOD                          756        80

EARNINGS PER ORDINARY SHARE                                    14.67p     2.58p



GOODWIN PLC

GROUP BALANCE SHEET

at 30th April 2001


                                                                 2001      2000
                                                                 £000      £000

FIXED ASSETS
Tangible assets                                                 6,641     6,121
Investments                                                        44        66
                                                                6,685     6,187

CURRENT ASSETS
Stocks                                                          3,669     3,409
Debtors                                                         6,387     4,912
Cash at bank and in hand                                          235        79
                                                               10,291     8,400

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR                (8,260)   (7,313)

NET CURRENT ASSETS                                              2,031     1,087

TOTAL ASSETS LESS CURRENT LIABILITIES                           8,716     7,274

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR         (706)     (100)

PROVISIONS FOR LIABILITIES AND CHARGES                          (592)     (505)

NET ASSETS                                                      7,418     6,669


CAPITAL AND RESERVES
Called up share capital                                           720       720
Profit and loss account                                         6,677     5,923

SHAREHOLDERS' FUNDS - EQUITY                                    7,397     6,643
MINORITY INTERESTS - EQUITY                                        21        26
                                                                7,418     6,669


GOODWIN PLC

AND SUBSIDIARY COMPANIES



GROUP CASH FLOW STATEMENT

for the year ended 30th April 2001


                                                                2001      2000
                                                                £000      £000

NET CASH INFLOW FROM OPERATING ACTIVITIES (Note 1)             2,258     1,242

RETURNS ON INVESTMENT AND SERVICING OF FINANCE                 (291)     (217)
TAXATION                                                       (144)     (367)
CAPITAL EXPENDITURE                                          (1,124)   (2,005)
EQUITY DIVIDENDS PAID                                          (106)     (212)

CASH INFLOW/(OUTFLOW) BEFORE FINANCING                           593   (1,559)
FINANCING                                                      (259)      (53)

INCREASE/(DECREASE) IN CASH IN THE PERIOD                        334   (1,612)



Note 1:

RECONCILIATION OF OPERATING PROFIT TO NET CASH FLOW FROM OPERATING ACTIVITIES

                                                                  2001     2000
                                                                  £000     £000

Operating Profit                                                 1,882      553
Depreciation Charges                                             1,023      734
(Profit)/Loss of Disposal of Fixed Assets                         (17)        7
(Increase)/Decrease in Stocks                                    (268)      113
(Increase)/Decrease in Debtors                                 (1,401)       38
Increase/(Decrease) in Creditors                                 1,039    (203)

NET CASH INFLOW FROM OPERATING ACTIVITIES                        2,258    1,242

GOODWIN PLC

AND SUBSIDIARY COMPANIES

RESULTS FOR THE YEAR ENDED 30TH APRIL 2001



NOTES


 1. The Directors propose the payment of an ordinary dividend of 4.17p per
    share (2000: 1.47p).


 2. The proposed dividend will be paid on 7th November 2001 to shareholders on
    the register at the close of business on 5th October 2001.



3. The earnings per ordinary share has been calculated on profit on ordinary
activities after taxation (and minority interests) of £1,056,000 (2000: £
186,000) and by reference to the 7,200,000 ordinary shares in issue throughout
both years. The company has no share options or other diluting instruments and
accordingly there is no diluted earnings per share.

4. The Annual General Meeting will be held at 10.30 a.m. on 5th November 2001
at the Saxon Cross Hotel, Sandbach, Cheshire.

5. The financial information contained in this report does not constitute
statutory accounts within the meaning of Section 240 of the Companies Act 1985
for the years ended 30th April 2000 or 2001. Statutory accounts for 2000 have
been delivered to the Registrar of Companies and those for 2001 will be
delivered following the company's annual general meeting. The auditors have
reported on the accounts for 2000 and 2001; their reports were unqualified and
did not contain statements under Section 237(2) or (3) of the Companies Act
1985.




End