Last checked at 17 Mar 2016 10:00
Goodwin PLC today announces its third quarter Interim Management Statement for the period 1st November 2015 to 31st January 2016.
The consolidated, abbreviated and unaudited income statement below for the nine months' trading ending 31st 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