Interim Management Statement

RNS Number : 4290S

Goodwin PLC

17 March 2016

 

Goodwin PLC today announces its third quarter Interim Management Statement for the period 1^st November 2015 to 31^st January 2016.

The consolidated, abbreviated and unaudited income statement below for the nine months' trading ending 31^st January 2016 shows revenue of £87.5 million (2015: £108.5 million) and profit before taxation of £9.0 million (2015: £17.3 million).

There have been no significant adverse events and whilst many of our engineering division customers in the oil, gas, mining and power generation business are having a difficult time, overall, as a Group, the order input for the first three quarters of this financial year versus the same period last financial year has increased by 15%.  This increase has in part been helped by the refractory engineering division continuing to grow and by our antenna systems company, Easat, now having an historic record order book for primary and secondary radar.  We are also obtaining significant valve orders for LNG terminals and for the Middle East.

For the above reasons, we do not expect the next financial year to be as difficult as we had once feared. 

During the third quarter we purchased a casting powder company in China which is complementary to our slightly larger existing two Chinese casting powder companies.  This will help enhance critical mass and market share.

J. W. GOODWIN

Chairman

GOODWIN PLC

Consolidated, Abbreviated and Unaudited Income Statement

for the nine months ended 31st January 2016

		Unaudited 9 Months Ended	Unaudited 9 Months Ended	Audited 12 Months Ended
		31st January	31st January	30th    April
		2016	2015	2015
		£'000	£'000	£'000
Revenue - Continuing		87,489	108,481	127,049
Operating Profit		9,275	17,772	20,447
Financial Expenses		(419)	(603)	(682)
Share of Profit of Associate Companies		148	151	288
Profit Before Taxation		9,003	17,320	20,053
Tax on Profit		(1,870)	(3,741)	(4,601)
Profit for the Period		7,134	13,579	15,452
Attributable to:
Equity Holders of the Parent		6,628	13,014	15,025
Minority Interest		506	565	427
		7,134	13,579	15,452
Earnings Per Ordinary Share:
Basic and Diluted		94.21p	180.75p	208.68p

17th March 2016

 

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