Boring_Bernie
13 Jun 2019
Time for a rethink It’s been a while since there’s been any comment on Goodwin here ( which wasn’t unusual, even when people actually discussed shares on ii ), but the recovery seems to be well under way, and the sp has risen over the last 12 months or so to reflect that The next news from the company is due at the back end of July, and, I must admit, if the sp recovery continues over the next month or so and breaks £35, then I’ll be thinking of starting to take some profits BB
Boring_Bernie
30 Jul 2018
Time for a rethink Well, it’s taken a while, but the recent results have shown that Goodwin have finally turned the corner and, though it looks like it’ll take a while to get back to the same level of profitability that we had a few years ago, there are now grounds for optimism. Consequently I topped up a bit last Friday ( at roughly £24.50 ) and am hoping for a recovery to something over £30 in the next 12 to 18 months BB
II Editor
08 Sep 2017
NEW ARTICLE: Is Goodwin one of those rebound stories? "LSE:GDWN:Goodwin's just published its results. You've got mixed feelings about this one haven't you, Richard?Very. The first thing to recognise is that Goodwin has been successful in the past, and the culture that brought success won't have just ..."[link]
Boring Bernie
23 Aug 2017
Re: Time for a rethink I still like them, but am sat on a moderately hefty loss at the moment so plainly know very little ! To be honest, I think they're doing all the right things and the business will recover, but as to when they'll start to turn it round and at what level profits will get back to is hard to call.For the moment, I'm holding what I've got but don't feel a need to throw any more cash at it until we see some real signs of recovery.
JoseFrio
23 Aug 2017
Re: Time for a rethink Well Warren East is an engineer and he seems to have achieved a fantastic turnaround at Rolls Royce.The results are more detailed than is usual for Goodwin, and they also explain more about performance (or reasons for lack thereof) than is usual, for them. It is possible to see this as making excuses, but I think they have genuinely understood why growth has ceased and what to do about it. The chairman's confidence has been shaken and so he re-iterates the strategyl, which is hard to fault (although I am no expert in Goodwin's markets). In other words, I feel the reasons for lack of growth are genuine and their experience and focus will see them through the problems. In the past, they have reacted to changing market conditions and are continuing to do so. So I plan to hold, although I sold down my holding somewhat a year ago, and in any case Goodwin is a much smaller part of my portfolio now, thanks to strong performance elsewhere.
DarwenLad
23 Aug 2017
Time for a rethink Profits are sharply down for third year in a row, led by a collapse in the profitability of its biggest business (mechanical engineering), and GDWN offers little promise of any meaningful recovery in the current year. There is now "significant doubt" that the controversial share option scheme introduced last year to incentivise management will now vest because the pricing model does not "reflect current market conditions the group faces". This family run engineering company has an excellent long-term record, and a very loyal investor following, but seems to be really struggling despite the sharp fall in value of sterling which should surely help a company which generates over 80% of its revenues overseas. It claims that its productivity (measured by output per employee) is more than twice the UK and Continental European average for its sector. Like others it has been hit by the fall in oil prices but this market now accounts for less than half its revenues.Could this be another case of a company where excellent engineers do not necessarily make the best managers. The paucity of independent non-execs on the board, and the rather cavalier way it releases its stock market announcements - the results were due last Friday but released late Tuesday during stock market trading hours - raise a number of warning flags. Would be interested in a second opinion on the company.
Boring Bernie
10 Oct 2016
Re: Interims : Ouch While the worst might not yet be over here, the sp target they've set themselves in the LTIP would see a very decent return over the next few years, so I've started buying Goodwin again, mostly marginally above the sp I sold out at last December, such is life.
once a week
17 Sep 2016
Re: NEW ARTICLE: Big incentive for 75% share... I'm a long time holder of Goodwin shares. They run the company well and I'm confident that they will take advantage of the inevitable upswing in oil and gas investment. The LTIP they have put in place looks a tad too achievable to me but I'd be happy if the share price got to £35 - this would take account of the dilution. On the plus side, its an LTIP with a simple goal and incentive to keep the share price high over the vesting of the plan.
II Editor
16 Sep 2016
NEW ARTICLE: Big incentive for 75% share price gain "High executive pay and convoluted schemes to pay it are widely criticised at larger firms. The practice is much more widespread than that.First off, an apology for writing about LSE:GDWN:Goodwin's incentive plan for the second time in three ..."[link]
II Editor
02 Sep 2016
NEW ARTICLE: This bonus scheme makes the blood boil "LSE:GDWN:Goodwin's annual report is largely reassuring, but there's an unexpected development: A long term incentive plan (LTIP) that could give as much as 10% of the company to the directors.Despite a small fall in revenue and a considerable ..."[link]
II Editor
17 Jun 2016
NEW ARTICLE: 20 shares for the future "Every year, every company tracked by the Decision Engine is re-evaluated, and its rankings adjusted to reveal good long-term investments. Scrutinising preliminary results is the first of a two or usually three stage annual evaluation of the firms ..."[link]
II Editor
31 Mar 2016
NEW ARTICLE: Confident to double-up on this share "Last Thursday I doubled-up* on the Share Sleuth portfolio's biggest loser, LSE:GDWN:Goodwin.I believe Goodwin is a very good company enduring difficult market conditions. Those conditions will change, probably for the better over the long-term, ..."[link]
Latitude 41
20 Jan 2016
Resilient price The price has been remarkably resilient over the last few days, so I'm beginning to wonder whether we have found the bottom. I'll certainly consider topping up if the price continues to hold up.
II Editor
12 Jan 2016
NEW ARTICLE: Goodwin: Short-term pain, long-term gain "In December, Goodwin reported revenue down 16% and profit down 55%. As the fog of war is clearing, we can begin to assess the damage.From JC, in the comments just before Christmas:Richard Will you be speaking to John Goodwin ..."[link]
II Editor
08 Jan 2016
NEW ARTICLE: 15 shares for the future "I've changed the way my decision engine ranks the shares I follow to put more emphasis on the businesses' strengths. Now the giant spreadsheet ranks each share out of 20. The shares with the lowest market valuations get 10 points and the ..."[link]
