Interim Results

Goodwin PLC
26 January 2001

Goodwin PLC and subsidiary Companies

Unaudited Interim Results

The attached statement is sent to you on 26 January confirming approval of the
Interim Report at the Board Meeting held on 26 January 2001. The Interim
Report is to be sent to shareholders today and will be made available to the
public at the Company's registered office.



J.W. Goodwin
Chairman.





                                 GOODWIN PLC

                          UNAUDITED INTERIM RESULTS

                        GROUP PROFIT AND LOSS ACCOUNT

                  For the year half ended 31st October 2000

                                            Half Year     Half Year  Year Ended
                                                Ended         Ended
                                                                       30 April
                                           31 October    31 October        2000
                                                               1999
                                                 2000
                                                               £000        £000
                                                 £000

TURNOVER                                       11,433        10,119      20,769

OPERATING PROFIT                                  773           159         553
Share of loss associated undertaking             (12)          (29)        (32)
Net interest payable                            (124)          (67)       (217)

PROFIT ON ORDINARY ACTIVITIES BEFORE              637            63         304
TAXATION
Tax on profit on ordinary activities            (193)          (17)       (110)
PROFIT ON ORDINARY ACTIVITITES AFTER              444            46         194
TAXATION
Minority interests - equity                         0             0         (8)

PROFIT FOR THE FINANCIAL PERIOD                   444            46         186
Proposed ordinary dividend                          0             0       (106)

RETAINED PROFIT FOR THE FINANCIAL                 444            46          80
PERIOD

EARNINGS PER ORDINARY SHARE                     6.17P         0.64P       2.58P





                                 GOODWIN PLC

                          UNAUDITED INTERIM RESULTS

                          GROUP CASH FLOW STATEMENT

                  For the year half ended 31st October 2000


                                                   Half Year Half Year     Year
                                                       Ended     Ended    Ended

                                                          31        31 30 April
                                                     October   October     2000
                                                        2000      1999

                                                        £000      £000     £000

NET CASH (OUTFLOW)/INFLOW FROM OPERATING               (177)   (1,283)    1,242
ACTIVITIES (Note 1)
RETURNS ON INVESTMENT AND SERVICING OF FINANCE         (124)      (67)    (217)
TAXATION                                                (47)        0     (367)
CAPITAL EXPENDITURE                                  (1,064)     (829)  (2,005)
EQUITY DIVIDENDS PAID                                      0         0    (212)
CASH OUTFLOW BEFORE FINANCING                        (1,412)   (2,179)  (1,559)
FINANCING                                                219      (25)     (53)
DECREASE IN CASH IN THE PERIOD                       (1,193)   (2,204)  (1,612)


Note 1: Reconciliation of operating profit to net
cash flow from operating activities


                                                   Half year Half year     Year
                                                       ended     ended    ended

                                                        31st      31st     30th
                                                     October   October    April

                                                        2000      1999     2000

                                                        £000      £000
                                                                           £000

Operating Profit                                         773       159      553
Depreciation Charges                                     478       393      734
Loss on Disposal of Fixed Assets                           0         0        7
(Increase)/Decrease in Stocks                          (338)   (1,083)      113
(Increase)/Decrease in Debtors                         (582)     (423)       38
Decrease in Creditors                                  (508)     (329)    (203)

NET CASH (OUTFLOW) / INFLOW FROM OPERATING             (177)   (1,283)    1,242
ACTIVITIES



                                 GOODWIN PLC

                          UNAUDITED INTERIM RESULTS

                             GROUP BALANCE SHEET

                             At 31st October 2000



                                              Half Year   Half Year Year Ended
                                                  Ended       Ended
                                                                      30 April
                                             31 October  31 October       2000
                                                   2000        1999
                                                                          £000
                                                   £000        £000

FIXED ASSETS
Tangible assets                                   6,012       4,930      6,121
Investments                                          59          72         66
                                                  6,071       5,002      6,187

CURRENT ASSETS
Stocks                                            3,747       4,597      3,409
Debtors                                           5,493       5,359      4,912
Cash at bank and in hand                            122         249         79
                                                  9,362      10,205      8,400

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE       (7,506)     (8,051)    (7,313)
YEAR
NET CURRENT ASSETS                                1,856       2,154      1,087

TOTAL ASSETS LESS CURRENT LIABILITIES             7,927       7,156      7,274
CREDITORS: AMOUNTS FALLING DUE AFTER MORE         (272)       (128)      (100)
THAN ONE YEAR
PROVISIONS FOR LIABILITIES AND CHARGES            (542)       (397)      (505)

NET ASSETS                                        7,113       6,631      6,669

CAPITAL AND RESERVES
Called up Share Capital                             720         720        720
Profit and Loss Account                           6,367       5,892      5,923

SHAREHOLDERS FUNDS - EQUITY                       7,087       6,612      6,643
MINORITY INTERESTS - EQUITY                          26          19         26
                                                  7,113       6,631      6,669





                                 GOODWIN PLC

                          UNAUDITED INTERIM RESULTS


NOTES

 1. The Directors do not propose the payment of an interim dividend.
 2. The earnings per ordinary share has been calculated on profit on ordinary
    activities after taxation (and minority interests) of £444,000 (October
    1999: £46,000) 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.
 3. The comparative figures for the financial year ended 30th April 2000 are
    not the Company's statutory accounts for that financial year. Those
    accounts have been reported on by the Company's auditors and delivered to
    the Registrar of Companies. The report of the auditors was unqualified and
    did not contain a statement under section 237 (2) or (3) of the Companies
    Act 1985.



COMMENTS

Trading has recovered from the low levels experienced in the previous year.
The mechanical engineering division has won some longer term contracts which
will help maintain the current level of activity into the year 2002.

Profit margins at the half year approached those achieved in the half year two
years ago. The dramatic improvement in the margins achieved for the last half
year reflects the efficiencies that flow from an increased workload.


                                   J.W. GOODWIN, Chairman



Ivy House Foundry

Hanley

Stoke-on-Trent

26th January, 2001