Goodwin PLC
22 September 2000
During much of the financial year commencing 1st May 1999
constraints in capital expenditure within the international
petroleum, oil and gas industries together with the strength
of sterling led to reduced turnover, particularly in Europe.
The group's efforts to be internationally competitive have
been undermined by government policies.
Capital investment has taken place to reduce costs and improve
efficiency and is reflected in the increase in net assets.
Towards the end of the financial year order intake picked up.
Progress towards previous profit levels is expected due to our
efficiency and the greater capital expenditure within the oil
and gas industry as a result of higher oil prices.
The financial information contained in this report does not
constitute statutory accounts within the meaning of Section
240 of the Companies Act 1985 for the years ended 30th April
1999 or 2000. Statutory accounts for 1999 have been
delivered to the Registrar of Companies and those for 2000
will be delivered following the company's annual general
meeting. The auditors have reported on the accounts for 1999
and 2000; their reports were unqualified and did not contain
statements under Section 237(2) or (3) of the Companies Act
1985.
J. W. Goodwin
Chairman
22nd September 2000
Goodwin PLC
Statement of Group Profit and Loss Account
For the year ended 30 April 2000
2000 1999
£000 £000
Turnover 20,769 25,364
--------- --------
Profit on ordinary activities before 304 1,508
taxation
Deduct:
Taxation Charge 110 442
--------- --------
Profit on ordinary activities after 194 1,066
taxation
Less:
Proposed ordinary dividend (see note) 106 212
Minority interests 8 14
--------- --------
Retained profit of the financial year 80 840
--------- --------
Earnings per ordinary share 2.58p 14.61p
Notes:
1. The proposed ordinary dividend represents 1.47p per share
(1999: 2.94p)
2. The proposed dividend will be paid on 10 November 2000 to
shareholders on the register at the close of business on 13
October 2000.
3. The Annual General Meeting will be held at 10.30am on 8
November 2000 at The Saxon Cross Hotel, Sandbach, Cheshire.
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