Share Name Share Symbol Market Type Share ISIN Share Description
Goodwin Plc LSE:GDWN London Ordinary Share GB0003781050 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -25.00 -1.26% 1,965.00 4,633 16:35:21
Bid Price Offer Price High Price Low Price Open Price
1,930.00 2,000.00 2,000.00 1,910.00 2,000.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 127.05 16.41 159.79 12.3 145
Last Trade Time Trade Type Trade Size Trade Price Currency
16:29:47 AT 13 2,000.00 GBX

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Date Time Title Posts
27/3/202011:56Goodwin - Now a Jim Slater Zulu Stock1,220
02/11/200709:02Good Winner? Price 220p 10/9/2003308
10/9/200313:07Have they been overlooked?13

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Goodwin Daily Update: Goodwin Plc is listed in the Industrial Engineering sector of the London Stock Exchange with ticker GDWN. The last closing price for Goodwin was 1,990p.
Goodwin Plc has a 4 week average price of 1,750p and a 12 week average price of 1,750p.
The 1 year high share price is 3,700p while the 1 year low share price is currently 1,750p.
There are currently 7,363,200 shares in issue and the average daily traded volume is 3,976 shares. The market capitalisation of Goodwin Plc is £144,686,880.
redartbmud: Kinwah I did spot that. There was definitely a 'massage' to boost the return. It wasn't difficult to justify to the auditors. They have operated a policy of buy, and hold, additional shares for several years. As they act together, or in small groups, it is effectively a concert party. The free float is small, and a small number of shares traded consequently has a big impact on the share price. Doubling the dividend was also a brilliant move, in the run up to the vesting date!! Unfortunately, the LTIP deal wasn't good for shareholders, and they know that it had to be a 'one off'. The market wasn't happy with it, but they pulled it off. They are unlikely to get away with it again, for at least the next years, but ever say never, after that time has elapsed. I doubt that anyone will have the courage to ask that question at the AGM. Most of the attendees are former employees and locals. I bet most bought lots of shares, many years ago, at very modest prices, and have held ever since. it is possible that the current annual dividend exceeds their purchase cost. red
redartbmud: I think that they are at zero price. The number of potential shares, that could be earned (maximum of 1% of the existing share capital, of the company = 8% total) and the zero coupon, caused a big wave when it was unveiled. It was also complex to value, based on the information provided. There were a number of quite tough targets to hit, one of which was the average share price on 30 April 2019, £31.70 and the opening share price on 1 May £32.38. A start reference was the 5 October share price of £22.20. Wilm Sorry if I confused you. The maximum that could have been earned was 1% each, for the 'Great 8' but in the event only 85% vested = 6.8% or 61,200 shares each = 489,600 shares. It is just my opinion, on how they will take their entitlements, but 6 out of 8 are certainly family, and the other 2 may be related in some way, If not, they are very closely aligned. They will have big tax bills to meet, so an even spread, over 5 years, may be their best option, from a personal tax and cash flow standpoint, based on the current income tax regime. If too many of them took the 30%, in the same year, it has the potential to adversely affect the share price, and disadvantaging their co-directors. The Goodwins have a history of buying, and holding forever. If you look back, any sales have been matched, by an equal purchase, into some form of tax wrapper that includes spouses, and they buy Goodwin shares annually to put into their ISA accounts.
alexisk: Share price at highest for 5 years. Looks like someone thinks the results to be announced on 22 August are going to be good. I hope they are right.
cockerhoop: Red, I've seen a Richard Beddard article suggesting £42.50 would be the maximum (ie 8% dilution) which roughly correlates to my figures although he doesn't appear to consider dividends in his TSR calculation. hTTps:// This one though suggests £35 hTTps:// My reading suggests a TSR of 1850p above April 2016's £22.20 is required to get the full 8%. On that basis at the current share price we'll see about 4% dilution with it rising by 0.4% for every 92.5p rise in share price
cockerhoop: Dacian, I make it 316800 shares in total based on a £31 share price and £1.67 in dividends since 2016. ie 3600 shares x 8 for every 92.5p increase in TSR above £22.20 so 55% of total possible maximum payout Interestingly 20% of the maximum has been added since the product innovation RNS on 2nd April - the cynical may consider that share price manipulation so close to the 30th April 2019 performance cutoff.
redartbmud: Beddard on 16 Sept 2016. LTIP: Crudely, the incentive could award Goodwin directors options on 1% of the company's share capital in less than three years' time if the share price reaches £35 (today it is around £20). The options would cost them a minimal amount to exercise and each director's award would be worth around £2.5 million*. The cost to shareholders would be an 8% dilution in their holdings. A small price to pay, perhaps, considering the share price would have risen about 70%. Currently 7.2m shares in issue, so 1% = 720,000 shares. Any bets, the current share price is £31.60 up £1 today?
norbert colon: A great set of results that clearly show the business moving back up the curve.Assuming only modest revenue growth for FY2019 of say 8% and maintaining 30% GM there is no reason why a move back to historical (2013-2015) margins of low/mid double digits can't be obtained. We would then back back on a PE of 10 and generating free cash of £6m with a divi up around 140p yielding 5% at current prices. This business historically has generating a ROE/ROCE of 25% and I'm sure the Goodwins are working hard to secure those big contracts eluded which will pave the way to re-rating of the share price.The only thing I don't really like is the fairly high level of CAPEX but this is going to drop to circa 55% of PTP on a rolling 3yr basis in line with historical norms but still high whichever way you look at it. This business isn't going bust that's very sure and I can see this being a very long term holding for me now.
kneecaps2: Super results today and excellent good quality order books. Still a buy and I expect the share price to beat the previous all time high of about £42 within the next couple of years.
wilmdav: Excellent post, bench2. I have corrected a couple of errors in my hurriedly prepared spreadsheet. Eps charts now show the correct dividend for 2018 alongside reported eps, which illustrates the proportional jump. I agree, this shows confidence about earnings in 2019 and beyond. They have spent heavily on capex during the last 6 years. My guess is that they feel this can be reduced during the years ahead. Historic yield in now 3.7% at a share price of 2280p Same link: Http://
skanjete2: They award themselver 8% extra new shares if they can create 8/0,05 = 160% extra TSR from 2009. Share price 30 april 2009 : 922p TSR at 166,09 on 30 april 2016 : 922 x 2,6609 = 2.453p TSR for 8% extra shares : 166.09+160 = 326.09% TSR 326,09% on 30 april 2019 : 922 x 4,2609 = 3.928,5p TSR from 30 april 2016 to 2019 : 3928,5/ 2453 = 1,6015 = 60% But TSR from 30 april 2016 to now is already : 2200sp + 42,35p divi = 2245,35 - 1925 = 320,35p. So starting price x TSR on 30 april 2016 : 2453 +320,35 = 2773,35p at the moment of AGM. TSR left to realise in order to create the 8% extra shares : 3928,5/ 2773,35 =41,65% in 2,5 years time, this is an annualised return of 14,9%/year. Stated otherwise : if they create 7200000 x (3928,5-2773) = 83.196.000£ of value, they pocket 576.000 x 3928,5 = 22.625.000£, or about 27,2% of the value created, on top of their salary. I invite everyone to evaluate my calculation and make remarks.
Goodwin share price data is direct from the London Stock Exchange
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