Goodwin PLC Interim Management Statement (1803Z)
March 10 2017 - 8:15AM
UK Regulatory
TIDMGDWN
RNS Number : 1803Z
Goodwin PLC
10 March 2017
Goodwin PLC today announces its third quarter Interim Management
Statement for the period 1(st) November 2016 to 31(st) January
2017.
The consolidated, abbreviated and unaudited income statement
below for the nine months' trading ending 31(st) January 2017 shows
revenue of GBP105.5 million (2016: GBP87.5 million) and profit
before taxation of GBP8.2 million (2016: GBP9.0 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 Unaudited Audited
9 Months 9 Months 12 Months
Ended Ended Ended
31st 31st 30th
January January April
2017 2016 2016
GBP'000 GBP'000 GBP'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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