Business
Trading Update & Strategic Collaboration Agreement
Goodwin PLC reported a workload of £357 million as of August 31, 2025, a 24% increase since April 2025. The Mechanical Engineering Division is on track for a 30% year-on-year increase in activity by the half year. Easat Radar Systems Ltd secured a £5 million contract in September to supply surveillance systems to Turkmenistan. Goodwin Steel Castings entered a collaboration agreement with Northrop Grumman, including an initial $16 million order, with potential orders exceeding $200 million as USA submarine programs receive funding. This agreement includes an exclusivity arrangement for a critical program component, representing approximately 25%-30% of the MoU value. Goodwin Steel Castings' radiographic facility output has increased by 300% on a component level. Disclaimer*
About this update from Goodwin Plc
[{"type":"text","content":"\n\nGOODWIN PLC\nSeptember 2025\nTrading Update & Strategic Collaboration Agreement\n \nTrading update\nWe are pleased to report that the Group's activity and workload have continued to substantially move forward. The workload was £357 million as at 31st August 2025 (a 24% increase from April 2025), which is being matched by a similar increase in our levels of activity.\nThe Refractory Engineering Division is delivering strong growth, with current trading profitability significantly ahead of the prior year. This is largely driven by the continued global market share and margin gains by our investment casting powder companies. This growth results in higher usage of cristobalite manufactured by Hoben International Limited. In addition to this sale of Soluform's concrete bag work by Hoben are 80% ahead on a year-to-date basis and we are confident in the ability of the team to keep growing sales of this product line in the long-term.\nThe Mechanical Engineering Division's specialist heavy duty submersible pump companies, which supply their pumps into the mining industry, are on track to deliver a 30% year on year increase in activity by the half year. Goodwin Pumps India Private Ltd, which manufactures the pumps and sells the units domestically and to its sister pump companies based in Australia, Brazil and South Africa, has stepped up its production in line with the growing demand globally.\nPositive momentum continues at Goodwin International Ltd, which, since the beginning of September, has received a follow-on order for a further 20 units of the 63-element rack under the existing framework agreement with Sellafield. These highly engineered racks, each measuring approximately 5.5 metres high by 2.5 metres by 1.25 metres, require advanced manufacturing techniques and precision CNC machining. Once delivered, each rack will securely house 63 cans of spent nuclear fuel as part of Sellafield's long-term storage infrastructure. To date, Goodwin International has successfully delivered 27 racks to the customer, and this latest award brings the contracted total to 100 units. Further call-offs are expected in the coming months. As noted by the client, \"the decision reflects our continued confidence in Goodwin International's capability and performance\".\nGoodwin Steel Castings Ltd is safely operating at respectable ...