Goodwin Considers Sale of Defense-Linked Assets Amid Record Profits
Goodwin, a UK-based engineering firm, reported record financial results for its fiscal year ending April 30. Revenue rose to £280 million and trading profit more than doubled to £77.5 million, driven largely by strong performance in the defense sector through precision-machined castings used in naval programs. The company has now announced it is exploring a sale of its Mechanical Engineering division via an auction process led by Rothschild & Co. This unit includes several key businesses and generated over £66 million in trading profit last year, making it highly attractive to potential buyers. The board aims to complete the disposal within 12 months and return much of the proceeds directly to shareholders. The decision reflects a strategic shift as Goodwin looks to capitalize on strong defense demand while maximizing shareholder value through asset monetization.
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Topics: defense dividend growth industrial engineering M&A nuclear