Goodwin PLC (LON:GDWN) has unveiled its largest purchase agreement yet and lifted lifting annual turnover expectations significantly.
The long-term deal is to manufacture and machine storage boxes to assist with nuclear waste clean-up.
The engineer said this will further diversify its revenue streams and, alongside other business wins, will likely reduce oil and gas sector activity to less than 20%, from the previous 40%.
House broker Shore Capital said the multi-year agreement underpins the medium-term outlook while the firm remains well-placed in its key markets.
Shares shot up 19% to 3,260p on Monday at the opening bell.
Published at Mon, 22 Jun 2020 07:28:00 +0000-Goodwin expects higher turnover after largest purchase agreement yet