Engineering firm Goodwin turns over £68m in nine months
Staffordshire engineering firm Goodwin has revealed it has turned over £68.1 million in the first three quarters of its financial year.
The Stoke-on-Trent group’s unaudited income statement for the nine months’ trading ending January 31 showed revenue of £68.1 million and profit before tax of £9.5 million.
The foundry and manufacturing business has made a success of investing in emerging markets, including China and Brazil – and the company has benefited from positive exchange rates.
Chairman John Goodwin said: “The results remain in line with expectations and no material adverse events have impacted on the group during the relevant period.
“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.
“The low value of sterling continues to help our competitiveness and all our operations in China, India, Thailand and Brazil have improved performance.”