Last checked at 10 Mar 2017 14:15
Goodwin PLC today announces its third quarter Interim Management Statement for the period 1st November 2016 to 31st January 2017.
The consolidated, abbreviated and unaudited income statement below for the nine months' trading ending 31st January 2017 shows revenue of £105.5 million (2016: £87.5 million) and profit before taxation of £8.2 million (2016: £9.0 million).
Whilst the turnover is up by 20.6%, the profitability has reduced by 8.5%, this being a feature of much fiercer competition for the lower level of orders being placed in the oil and gas industry.
The oil, gas and mining industry markets remain very quiet and the order input for the Group as a whole is 10% lower than that at the third quarter last year. The refractory engineering division companies both in the UK and overseas are still increasing sales volumes and profit.
Our focus remains on trying to improve cash flow and in handling the very significant currency swings that have resulted following the Brexit vote.
J. W. GOODWIN
Chairman
GOODWIN PLC
Consolidated, Abbreviated and Unaudited Income Statement
for the nine months ended 31st January 2017
Unaudited 9 Months Ended | Unaudited 9 Months Ended | Audited 12 Months Ended | ||
31st January | 31st January | 30th April | ||
2017 | 2016 | 2016 | ||
£'000 | £'000 | £'000 | ||
Revenue - Continuing | 105,474 | 87,489 | 123,539 | |
Operating Profit | 8,885 | 9,275 | 12.748 | |
Financial Expenses | (805) | (419) | (775) | |
Share of Profit of Associate Companies | 158 | 148 | 341 | |
Profit Before Taxation | 8,238 | 9,004 | 12,314 | |
Tax on Profit | (2,056) | (1,870) | (3,376) | |
Profit for the Period | 6,182 | 7,134 | 8,938 | |
Attributable to: | ||||
Equity Holders of the Parent | 5,813 | 6,628 | 8,838 | |
Minority Interest | 369 | 506 | 100 | |
6,182 | 7,134 | 8,938 | ||
Earnings Per Ordinary Share: | ||||
Basic and Diluted | 80.74p | 92.06p | 122.75p | |
10th March 2017