Goodwin (LSE:GDWN), the specialist engineering group, reported trading profit of £77.5 million for the year ended 30 April, up 118% from £35.5 million a year earlier.
Revenue rose 27% to £280 million, with the Mechanical Engineering division driving growth on rising demand for precision-machined castings used in UK and US naval frigate and submarine programmes.
The board proposed a final dividend lifting the total ordinary payout to 330p per share, up 18% from 280p, following a £40 million special interim dividend paid in November 2025.
Goodwin confirmed it has appointed Rothschild & Co to run an active sale process for a substantial part of the Mechanical Engineering division, comprising Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and its Pumps businesses, first announced on 7 August. "The sale process is progressing well," the company said, targeting completion within twelve months, with a substantial part of any proceeds expected to be returned to shareholders.
Within the division, Easat Radar Systems swung to a £4.5 million profit from near breakeven, while the Refractory division grew trading profits 15%, helped by demand from low-cost brass jewellery casting and a newly adopted silica-hazard-free casting powder in the US market.
Net debt stood at £29 million at year-end, with gearing at 22.4%.
Following the disposal, Goodwin said its remaining Refractory and Technological divisions generated £118 million in gross assets and £10 million in operating profit in the year, with the board intending to run the slimmed-down group on a zero net debt basis.
