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Goodwin PLC shares fell on Tuesday as it said its profit doubled in the first half of the year amid a ‘solid trading performance’. The Stoke-on-Trent, Staffordshire-based mechanical and refractory engineering firm said pretax profit more than doubled to £36.8 million in the half year to the end of October from £16.7 million a year ago. Revenue climbed 27% to £135.6 million from £106.4 million, while cost of sales grew by just 13% to £68.7 million from £60.7 million. Basic and diluted earnings per ordinary share more than doubled to 351.70 pence from 150.91p. Back in October, Goodwin shares soared as it said that for the financial year ending April 30, it expects to report pretax trading profit of £71 million, doubling from £35.5 million in financial 2025. On Tuesday, Goodwin said it continues to expect financial 2026 profitability to be above £71 million. Goodwin said order intake, ongoing programme execution and sustained demand in specialist areas provides visibility for the medium term. The company said it is well positioned with ‘operational capacity, technical capability and order cover’ supporting activity through the remainder of the financial year and into the medium term. Its workload stands at £330 million. It net debt position at the end of October was £5.8 million. In October, Goodwin announced a 532p per share special dividend, as it looked to ‘acknowledge and reward shareholders for their long-term commitment and support’. Following the payment of the one-off dividend, Goodwin said its net debt increased to £53 million at the end of November, which it said is in line with expectations. Shares in Goodwin were down 8.6% at 19,750.00 pence on Tuesday morning in London. The stock has more than doubled in the past six months from 7,600.00p. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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