13th Mar 2015 09:42
LONDON (Alliance News) - Mechanical and refractory engineering company Goodwin PLC on Friday said its pretax profit for the first nine months fell despite higher revenue.
In a short trading statement, the company said its pretax profit for the nine months to the end of January was GBP17.3 million, down from GBP18.0 million a year earlier, despite a rise in revenue to GBP108.5 million from GBP103.1 million.
Goodwin did not provide any information on its cost of sales, but its operating profit fell in the nine months to GBP17.8 million from GBP18.5 million.
"There have been no significant adverse events and the trading situation as advised at last year-end and at the end of the first half of this year is starting to ease down associated with reduced capital expenditure by the oil and gas companies and tighter market pricing," the company said.
Goodwin shares were down 0.8% to 2,555.00 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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