Goodwin PLC (LSE:GDWN) shares jumped 13.2% to 20,600p in early trading on Friday after the engineering group reported record annual profits, with trading profit more than doubling on strong defence and nuclear demand.
The stock reached an intraday high of 20,600p, up 2,400p from Thursday’s 18,200p close, as revenue rose 27% to £280 million.
Trading profit for the year to 30 April 2026 jumped 118% to £77.5 million from £35.5 million a year earlier, while revenue increased 27% to £280 million.
The company proposed an ordinary dividend of 330p per share, up 18% from 280p, following the improved performance.
Growth was particularly strong within Mechanical Engineering, where demand increased for precision-machined, high-integrity castings used in defence and nuclear applications. Goodwin has established positions across a number of UK and US Navy frigate and submarine programmes.
Meanwhile, the company said the process to dispose of a substantial part of its Mechanical Engineering division was progressing well, with discussions underway with several potentially interested parties.
The businesses earmarked for sale include Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and its pumps operations. Goodwin is targeting completion of the disposal process within the next 12 months and expects a substantial proportion of any proceeds to be returned to shareholders.
Elsewhere, trading profit within the Refractory division increased 15%, supported by growing demand for lower-cost jewellery casting products and strong growth from Hoben International's Soluform concrete bagwork business.
Goodwin ended April with net debt of £29 million after paying a £40 million special interim dividend during the year.
