Goodwin PLC (LSE:GDWN) reported trading profit of £77.5 million for the year ended 30 April 2026, an increase of 118% from the previous year, on revenue of £280 million.

The engineering and manufacturing group also proposed an 18% increase in its ordinary dividend.

The company attributed the annual performance to demand across its mechanical engineering and refractory operations, higher margins and previous investment in specialist engineering markets.

Goodwin starts sale process for mechanical engineering businesses

Goodwin’s board has initiated a sale process covering a substantial part of its Mechanical Engineering division and has appointed Rothschild & Co to manage the process.

The businesses included in the proposed transaction are Steel Castings, International, Noreva, Easat Group and Pumps.

The board said a substantial proportion of any proceeds generated from a transaction is expected to be returned to shareholders.

Goodwin said the businesses will continue operating during the sale process. The company has also revised its reporting structure to include a new Technological division as the board reviews capital allocation and its dividend policy.

Defence and LNG activity contributes to mechanical engineering performance

Goodwin reported activity from UK and U.S. naval ship and submarine programmes within its mechanical engineering operations during the year.

The division also benefited from improved performance at Easat Radar Systems, LNG-related demand at Noreva and developments within the group’s pump operations in South Africa and India.

Goodwin’s mechanical engineering activities include the production of precision-machined castings and valves for applications including defence, nuclear and LNG markets.

Refractory trading profit rises 15%

Trading profit within Goodwin’s refractory division increased 15% during the year.

The company said the division faced pressure from elevated gold and silver prices but benefited from increased demand for high-volume, lower-cost jewellery products and brass casting applications.

Goodwin plans to open a fourth investment powder manufacturing plant in China.

The company also reported early signs of a recovery in precious-metal jewellery usage as prices declined, although any resulting impact on future profit remains dependent on market conditions.

Goodwin reports adoption of X-SIL product in U.S.

Goodwin said internally developed technology has reduced the cost of producing certain investment casting powders, providing the company with flexibility over pricing and margins.

The group also reported commercial adoption of its patented X-SIL silica-hazard-free investment casting powder by the largest jewellery caster in the U.S.

Goodwin has developed X-SIL as an alternative investment casting powder for jewellery manufacturing and is seeking to expand its use within the U.S. market.

Goodwin operates engineering and refractory businesses

Goodwin PLC is an engineering and manufacturing group with operations spanning mechanical engineering, refractory products and related technologies.

Its mechanical engineering activities supply castings, valves and other engineered products for sectors including defence, nuclear and LNG, while its refractory operations manufacture products including investment casting powders, injection waxes and moulding rubbers.

The group operates internationally through businesses and brands including Easat Radar Systems, Noreva and GRS.