Source: Sharecast
The company said that, in light of current trading conditions, it is considering whether to revert back to its previous dividend policy, which limited distributions to 38% of post-tax profits, or move that threshold lower.
"Considering the payment of a special interim dividend in November 2025, together with highly increased global geopolitical uncertainty, the board continues to take a prudent approach to capital allocation and financial resilience," Goodwin said.
Ahead of the company's year-end of 30 April, the Mechanical Engineering Division lost two tenders worth €18m and €45m.
In Refractory Engineering, persistently high precious metal prices have continued to weigh on the jewellery casting markets, with weak consumer confidence affecting spending habits, the firm said.
Meanwhile, while none of the valves on order for LNG facilities in the Middle East have been cancelled or placed on hold, the group has requested to delay the dispatch of valves on certain large Middle East contracts due to the current geopolitical situation, which may affect the timing of revenues.
The stock was 29.3% lower at 16,200p by 1116 GMT, having dropped as much as 47.3% to 12,050p earlier on.
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