Goodwin PLC
25 February 2000
Goodwin PLC - Unaudited Interim Results
The attached statement is sent to you on 25 February
confirming approval of the Interim Report at the Board Meeting
held on 25 February 2000. The Interim Report is to be sent to
shareholders today and will be made available to the public at
the Company's registered office.
Unaudited Interim Results
Half Year Half Year Year Ended
Ended Ended 30 April
31 October 31 October 1999
1999 1998 £000
£000 £000
Turnover 10,119 12,998 25,364
------- ------- -------
Group profit on
ordinary activities 63 753 1,508
before taxation
Taxation charge 17 235 442
------- ------- -------
Group profit on
ordinary activities 46 518 1,066
after taxation
Minority interests Nil Nil 14
Profit for the period 46 518 1,052
Ordinary dividend Nil Nil 212
Retained profit 46 518 840
------- ------- -------
Earnings per ordinary 0.64p 7.20p 14.61p
share
Comments and Notes
The turnover in the period was reduced by some 22%. This was
primarily a reflection of the continued low activity in the
oil and petrochemical construction industries worldwide.
The profits were also dramatically reduced despite cost
cutting. Many economists are of the opinion that sterling is
20% over-valued. A reduction in sterling's strength would
greatly facilitate the Company, as a UK manufacturer, in the
winning of export orders.
The comparative figures for the financial year ended 30 April
1999 are not the Company's statutory accounts for that
financial year. Those accounts have been reported on by the
Company's auditors and delivered to the Registrar of
Companies. The report of the auditors was unqualified and did
not contain a statement under section 237 (2) or (3) of the
Companies Act 1985.
J W Goodwin
Chairman
Goodwin PLC
Ivy House Foundry
Hanley
Stoke on Trent
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