10th Sep 2014 09:13
LONDON (Alliance News) - Goodwin PLC Wednesday said its pretax profit and revenue increased in the first quarter on the back of an expected increase in its workload.
The engineering company said pretax profit in the three months to July 31 was GBP7.2 million, up from GBP6.3 million a year earlier. That came on the back of a rise in revenue to GBP39.7 million from GBP37.6 million the year before.
Goodwin said its first quarter results reflected the higher volume of activity for the group, associated with the increased workload it forecast in its year end report.
Goodwin said it has continued working on winning long-term supply agreements which will utilise the new machining capacity of its Goodwin International arm.
Goodwin shares were down 1.4% to 3,600 pence per share on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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