Final Results

Goodwin PLC
23 August 2002

23 August 2002

Goodwin PLC - Final Results

Goodwin PLC today announces its preliminary results for the year to 30th April
2002.


Despite many of our business markets being in great turmoil, I am pleased to
report an annual pre tax profit of £2.09 million on a turnover of £29.7 million.
The 33% increase in profit would have been substantially greater had it not been
for the poor performance of the antenna company, but such problems were more
than offset by record performances in terms of turnover and profit by Goodwin
Steel Castings and Goodwin International.


The new financial year started with reduced activity levels due to the knock-on
effects of the demise of Enron, but this is in part compensated for by strong
order intake for Goodwin International and Hoben International. Both these
companies have attained pole position within the world markets for their
respective products, dual plate check valves and jewellery casting powders, and
it is expected that they will continue to grow their sales and profitability.


We continue to challenge existing working methods and material sources with the
goal of further increasing our manufacturing efficiency and lowering our product
costs by further embracing the global business opportunities.

J. W. GOODWIN, Chairman

23rd August, 2002



GOODWIN PLC


GROUP PROFIT AND LOSS ACCOUNT

for the year ended 30th April 2002
                                                                                               2002                2001

                                                                                               £000                £000

TURNOVER                                                                                     29,712              24,892

                                                                                    ---------------     ---------------

OPERATING PROFIT                                                                              2,345               1,882

Share of loss of associated undertaking                                                        (30)                (30)

Net interest payable                                                                          (225)               (291)

                                                                                    ---------------     ---------------

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION                                                 2,090               1,561
                                                                                              
Tax on profit on ordinary activities                                                          (628)               (510)

                                                                                    ---------------     ---------------

PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION                                                  1,462               1,051
                                                                                              
Minority interests - equity                                                                       3                   5
                                                                                                  
                                                                                    ---------------     ---------------

PROFIT FOR THE FINANCIAL YEAR                                                                 1,465               1,056

Proposed ordinary dividend                                                                    (400)               (300)

                                                                                    ---------------     ---------------

RETAINED PROFIT FOR THE FINANCIAL YEAR                                                        1,065                 756

                                                                                    ---------------     ---------------

EARNINGS PER ORDINARY SHARE                                                                  20.35p              14.67p




GOODWIN PLC

GROUP BALANCE SHEET

at 30th April 2002

                                                                                                2002               2001

                                                                                                £000               £000

FIXED ASSETS

Intangible assets                                                                                201                  -

Tangible assets                                                                                7,145              6,641

Investments                                                                                       20                 44

                                                                                     ---------------    ---------------
                                                                                               7,366              6,685

CURRENT ASSETS

Stocks                                                                                         4,377              3,258

Debtors                                                                                        7,585              6,798

Cash at bank and in hand                                                                         189                235

                                                                                     ---------------    ---------------
                                                                                              12,151             10,291

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR                                               (9,554)            (8,260)

                                                                                     ---------------    ---------------

NET CURRENT ASSETS                                                                             2,597              2,031

                                                                                     ---------------    ---------------

TOTAL ASSETS LESS CURRENT LIABILITIES                                                          9,963              8,716

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR                                        (753)              (706)

PROVISIONS FOR LIABILITIES AND CHARGES                                                         (707)              (592)

                                                                                     ---------------    ---------------

NET ASSETS                                                                                     8,503              7,418

                                                                                     ---------------    ---------------


CAPITAL AND RESERVES

Called up share capital                                                                          720                720

Profit and loss account                                                                        7,727              6,677

                                                                                     ---------------    ---------------

SHAREHOLDERS' FUNDS - EQUITY                                                                   8,447              7,397

MINORITY INTERESTS - EQUITY                                                                       56                 21

                                                                                     ---------------    ---------------
                                                                                               8,503              7,418

                                                                                     ---------------    ---------------


GOODWIN PLC

AND SUBSIDIARY COMPANIES

GROUP CASH FLOW STATEMENT

for the year ended 30th April 2002

                                                                                                2002               2001

                                                                                                £000               £000

NET CASH INFLOW FROM OPERATING ACTIVITIES (Note 1)                                             2,912              2,258
                                                                                               

RETURNS ON INVESTMENT AND SERVICING OF FINANCE                                                 (225)              (291)
                                                                                               
TAXATION                                                                                       (673)              (144)

CAPITAL EXPENDITURE                                                                          (1,484)            (1,124)

EQUITY DIVIDENDS PAID                                                                          (300)              (106)

                                                                                     ---------------    ---------------

CASH INFLOW BEFORE FINANCING                                                                     230                593

FINANCING                                                                                      (277)              (259)

                                                                                     ---------------    ---------------

(DECREASE)/INCREASE IN CASH IN THE PERIOD                                                       (47)                334

                                                                                     ---------------    ---------------



Note 1:

RECONCILIATION OF OPERATING PROFIT TO NET CASH FLOW FROM OPERATING ACTIVITIES
                                                                                               2002                2001

                                                                                               £000                £000

Operating Profit                                                                              2,345               1,882

Depreciation Charges                                                                          1,144               1,023

Loss/(Profit) on Disposal of Fixed Assets                                                        33                (17)

Increase in Stocks                                                                          (1,176)               (268)

Increase in Debtors                                                                           (730)             (1,401)

Increase in Creditors                                                                         1,296               1,039

                                                                                    ---------------     ---------------

NET CASH INFLOW FROM OPERATING ACTIVITIES                                                     2,912               2,258

                                                                                 ------------------  ------------------




GOODWIN PLC

AND SUBSIDIARY COMPANIES


RESULTS FOR THE YEAR ENDED 30TH APRIL 2002


NOTES


 1. The Directors propose the payment of an ordinary dividend of 5.55p per share
    (2001: 4.17p)


 2. The proposed dividend will be paid on 8th November 2002 to shareholders on
    the register at the close of business on 11th October 2002.


        3.          The earnings per ordinary share has been calculated on
        profit on ordinary activities after taxation (and minority interests) of
        £1,465,000 (2001: £1,056,000) 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 6th
        November 2002 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 2001 or 2002.
        Statutory accounts for 2001 have been delivered to the Registrar of
        Companies and those for 2002 will be delivered following the company's
        annual general meeting. The auditors have reported on the accounts for
        2001 and 2002; their reports were unqualified and did not contain
        statements under Section 237(2) or (3) of the Companies Act 1985.



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