Goodwin PLC today announces its third quarter Interim Management Statement for the period 1^st November 2016 to 31^st January 2017.

The consolidated, abbreviated and unaudited income statement below for the nine months' trading ending 31^st January 2017 shows revenue of £105.5 million (2016: £87.5 million) and profit before taxation of £8.2 million (2016: £9.0 million).

Whilst the turnover is up by 20.6%, the profitability has reduced by 8.5%, this being a feature of much fiercer competition for the lower level of orders being placed in the oil and gas industry.

The oil, gas and mining industry markets remain very quiet and the order input for the Group as a whole is 10% lower than that at the third quarter last year.   The refractory engineering division companies both in the UK and overseas are still increasing sales volumes and profit.

Our focus remains on trying to improve cash flow and in handling the very significant currency swings that have resulted following the Brexit vote.

J. W. GOODWIN

Chairman

GOODWIN PLC

Consolidated, Abbreviated and Unaudited Income Statement

for the nine months ended 31st January 2017

10th March 2017