Goodwin third quarter in line with expectations

NORTH Staffordshire manufacturing group Goodwin has announced third quarter pre-tax profits of £9.5m based on revenues of more than £68m.

In an Interim Management Statement, covering the period November 1, 2009 to January 31, the company said the results were in line with expectations.

John Goodwin, group chairman, said: “At the half year we commented on our investment to increase our manufacturing capacity and these investments are now coming on line with the advantage that when an upturn in engineering products for the energy industries is seen we will be able to perform.

“Revenue for the nine-month period to January 31, 2010 is similar to the same period last year and the order backlog for current orders stands at six months accompanied by letters of intent for follow-on orders.”

He added that the low value of Sterling was continuing to help the group’s competitiveness and all of its international operations – which are based in the low-cost economies of China, India, Thailand and Brazil – saw improved performances.
 
The statement shows that the group’s consolidated; abbreviated and unaudited income for the nine months’ trading to January 31 has revenue of £68,175,000 and profit before tax of £9,531,000.
 
Mr Goodwin said there had been no adverse events to impact performance during the period.