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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.
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The consolidated, abbreviated and unaudited income statement below for the nine months' trading ending 31st January 2017 shows revenue of ÂĢ105.5 million (2016: ÂĢ87.5 million) and profit before taxation of ÂĢ8.2 million (2016: ÂĢ9.0 million).
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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.
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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.
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Our focus remains on trying to improve cash flow and in handling the very significant currency swings that have resulted following the Brexit vote.
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J. W. GOODWIN
Chairman
GOODWIN PLC
Consolidated, Abbreviated and Unaudited Income Statement
for the nine months ended 31st January 2017
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Unaudited 9 Months Ended | Unaudited 9 Months Ended | Audited 12 Months Ended | ||
31st January | 31st January | 30th April | ||
2017 | 2016 | 2016 | ||
ÂĢ'000 | ÂĢ'000 | ÂĢ'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 | |
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10th March 2017
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