Goodwin shares fall as notes performance affected by maintenance

Goodwin PLC on Wednesday said performance within the UK powder operations was affected during planned maintenance at Hoben International.

The Stoke-on-Trent, Staffordshire-based mechanical and refractory engineering company said it expects its established operations to continue to deliver reliable cash flows and sustainable growth over the medium and longer term.

However, performance within its UK powder operations in the four months to the end of August was affected by planned maintenance at Hoben International, as the calciner was taken offline for around 11 weeks. Further, elevated gold and silver prices continued to weigh on demand in some end markets which adversely impacted Goodwin Refractory Services.

The firm continues to expect that the completion of the disposal of the Mechanical Engineering businesses will occur in the first quarter of calendar year 2027.

Looking ahead, Goodwin said it remains confident in the prospects of the continuing businesses. The company's objective remains to create sustainable long-term value for shareholders via the businesses they will continue to own, it said.

Goodwin shares fell 4.0% to 13,840.00 pence each on Wednesday just before noon in London.

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