GOODWIN PLC

Earnings Release • Mar 10, 2017

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RNS Number : 1803Z

Goodwin PLC

10 March 2017

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

This information is provided by RNS

The company news service from the London Stock Exchange

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