Refractory and mechanical engineering specialist Goodwin (GDWN) posted a record forward order book of £165m at the end of its 2019 full year, representing a 94 per cent rise on its position this time last year. Goodwin didn’t divulge the nature of all of its orders, but hinted at several “multi-year” agreements that will involve its steel castings business and its Goodwin International division, which manufactures a host of valve products, machining and fabrication work for nuclear decommissioning projects and components for naval marine vessels.
On the same day that iron castings and machining specialist Castings (CGS) warned that it had experienced a softening in demand from the majority of its main commercial vehicle customers, Goodwin announced that it had returned steel castings to profit and completed an upgrade programme for the business that has increased its weight capability up to 35 tonnes net weight castings. There was worse news in Goodwin’s Easat Radar Systems division, which registered a loss owing to a “lack of throughput and excessive work in progress” over the year, along with contract delays connected with an off-the-shelf radar system for a major customer.
| GOODWIN (GDWN) | ||||
| ORD PRICE: | 3,600p | MARKET VALUE: | £ 259m | |
| TOUCH: | 3,520-3,680p | 12-MONTH HIGH: | 3,700p | LOW: 2,300p |
| DIVIDEND YIELD: | 2.7% | PE RATIO: | 23 | |
| NET ASSET VALUE: | 1,461p* | NET DEBT: | 20% | |
| Year to 30 Apr | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
| 2015 | 127 | 20.1 | 209 | 42.30 |
| 2016 | 124 | 12.3 | 123 | 42.30 |
| 2017 | 132 | 9.2 | 84.5 | 42.30 |
| 2018 | 125 | 13.3 | 118 | 83.47 |
| 2019 | 127 | 16.4 | 160 | 96.21 |
| % change | +2 | +23 | +35 | +15 |
| Ex-div: | 05 Sep | |||
| Payment: | 04 Oct | |||
| *Includes intangible assets of £22m, or 310p a share | ||||
