REG - Goodwin PLC - Interim Management Statement <Origin Href="QuoteRef">GDWN.L</Origin>
RNS Number : 1803ZGoodwin PLC10 March 2017Goodwin 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
10thMarch 2017
This information is provided by RNSThe company news service from the London Stock ExchangeENDMSCEALDEFFAXEFF
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