REG - Goodwin PLC - Interim Management Statement <Origin Href="QuoteRef">GDWN.L</Origin>

GoodwinAnnouncement

17/03/2016 10:00

RNS Number : 4290S
Goodwin PLC
17 March 2016
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

This information is provided by RNS
The company news service from the London Stock Exchange
  END
IMSEANDXFSXKEEF