Goodwin H1 profits surge on nuclear and naval contract wins
Goodwin Plc
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12:14 17/12/24
Engineering and manufacturing firm Goodwin said on Tuesday that interim pre-tax profits had surged as a result of the successful execution of contracts in the nuclear and naval sectors.
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Goodwin said pre-tax profits had grown 53% to £17.1m in the six months ended 31 October, while revenues rose from £97.6m to £106.4m.
Additionally, Goodwin said its forward order book had continued to strengthen and currently stood at £296.0m, up by £30.0m compared to the end of FY23.
"The significant growth in profitability and order book, both of which have more than doubled over the past three years, is primarily driven by the foundry and machine shop's success in securing and delivering high-integrity products for the nuclear decommissioning and naval vessel markets," said chairman Timothy Goodwin.
As of 1025 GMT, Goodwin shares were up 8.88% at 7,360.0p.
Reporting by Iain Gilbert at Sharecast.com