Business
Interim Results
Interim Results.
About this update from Goodwin Plc
[{"type":"text","content":"\n Goodwin PLC\n21 December 2007\n\n GOODWIN PLC\n\n CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS\n FOR THE HALF YEAR ENDED 31 OCTOBER 2007\n\n CHAIRMAN'S STATEMENT\n\nI am pleased to report that the pre-tax profits for the Group for the six month\nperiod ending 31st October 2007 were £4.37 million (2006: £2.83 Million), an\nincrease of 54% on a revenue of £34.96 million which is up 15 % on the same\nperiod last financial year.\n\nThe order books of all Group companies remain buoyant and it would be \nsurprising if the current level of activity were to drop in the second half of \nthe year. The Group's continued investment in terms of time and money in order \nto develop manufacturing and sales operations in the rapidly expanding Pacific \nBasin countries is progressively resulting in a larger proportion of Group \nprofits emanating from this region and the Board considers this effort will \nposition the Group well in future years.\n\nGoodwin Steel Castings continues to win multi million dollar orders for valves\nand components for use in high efficiency electrical power generating plant, be\nit in China, India or the USA.\n\nGoodwin International, having recently expanded its range of check valves to\ninclude the nozzle check valve to complement its dual plate check valve, and\nwith its new sister company in Germany, Noreva GmbH, is expected yet again this\nyear to win record levels of orders from the oil, gas and LNG industries world\nwide which have an impressive five year investment programme to keep pace with\nthe increasing world demand.\n\nThe Refractory Engineering Division with manufacturing units in the UK,\nThailand, China and India continues to expand and we are starting now to see\neconomies of scale benefits, especially with our new UK vermiculite facility\nwhich is scheduled to be fully commissioned in January 2008.\n\nInternet Central has engineered a hardware/software platform that provides a\nstable leading edge technology voice over internet protocal (VOIP) telephone\nexchange system that is now being sold through a growing number of distribution\nchannels, which should enable this company to continue its growth in turnover\nand profitability.\n\nThe Board continues to investigate opportunities of achieving additional growth\nin terms of turnover and profitability but it remains Board policy that the...