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Goodwin PLC on Monday announced a special dividend and said it expects its annual profit to double. Goodwin shares jumped 28% to 19,810.00 pence each in London on Monday morning. The Stoke-on-Trent, Staffordshire-based engineering and manufacturing company said that for the year to April 30, it expects to report pretax trading profit of £71 million, doubling from £35.5 million the year prior. Goodwin said its order book currently stands at £365 million. It added that it has ‘enhanced visibility’ on defence and nuclear work that are not yet reflected in the order book. ‘The group does not ordinarily provide forward guidance and does not intend to change this long-standing policy. However, given the high increase in pre-tax profitability for the year ending April 2026, on this occasion, it was thought appropriate to do so, as it is correspondingly being matched with a similar improvement in cash flow,’ Goodwin said. ‘All divisions contribute to this performance, although it should be noted that profitability levels and growth trajectories vary across the group’s businesses. Furthermore, this improved performance in profitability does not include contribution from our advanced Polyimide division which should start contributing in the next financial year.’ Goodwin announced a 532p per share special dividend, as it looks to ‘acknowledge and reward shareholders for their long-term commitment and support’ and ‘bearing in mind the imminent’ UK government budget announcement on November 26. ‘As the group approaches a zero net debt position, its strong cash generation, limited non-customer-funded capital expenditure and a resilient balance sheet have placed it in a position of financial strength, with surplus funds exceeding those needed for optimal efficiency,’ Goodwin added. ‘Following payment of the special interim dividend, the group will continue to have low gearing relative to its peers. The board remains confident in the group’s ongoing profitability and cash generation, which will support the growth of its existing businesses while also enabling investment in attractive opportunities as they arise.’ The special dividend will be paid on or around November 21. Goodwin announced it has named Adam Deeth as finance director from Tuesday. Anthony Thomas joins as a director on the same date. ‘Adam Deeth joined the group in 2022 and since 2023 he has worked as group chief accountant. Since joining, Adam has demonstrated strong financial leadership and in-depth understanding of the group’s operations, making him a valuable addition to the board. Anthony Thomas joined the group in 2019 and since 2021 has served as group general counsel. Anthony brings extensive legal and commercial experience from his previous roles within major engineering organisations,’ Goodwin said. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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