16th Dec 2020 11:58
Goodwin PLC - engineer based in Stoke-on-Trent - For the six months to the end of October, pretax profit falls by 22% to GBP5.8 million from GBP7.4 million the year before, on revenue that declines 11% year-on-year to GBP62.6 million from GBP70.1 million.
Fall in revenue is attributed to pandemic woes, the resulting downturn in the oil & gas industry and the delay of several capital projects.
Looking ahead, expects pretax profit in second half of financial year to be similar to first half, if not an improvement, due to the upcoming completion of several radar systems in East Asia, the start of manufacturing works across Goodwin's nuclear contracts and an improving Refractory Engineering division performance.
Current stock price: 3,052.00 pence, down 10% on Wednesday.
Year-to-date change: up 2.4%
By Dayo Laniyan; [email protected]
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