Sales and profits have increased at Staffordshire engineering firm Goodwin after targeting international growth markets.
Goodwin (GDWN) saw pre-tax profits for the six month period ending October 31 rise to £6.1 million, compared to £5.8 million in 2010.
Meanwhile, revenue of £54.3 million was up by 18 per cent on the £45.9 million sales in the same period last year.
The group also revealed it had agreed a five-year deal with Shell International Global Solutions to make it the single-source supplier of dual plate check valves for Shell’s capital expenditure projects on a global basis.
Goodwin said its Brazilian pump company, which was set up three years ago, has now started to make “significant profits”.
Chairman John Goodwin said: “As we wrote in our half yearly report this time last year, our biggest risk or unknown is the relationship of the major currency pairs and with the current topical news on the euro this situation remains.
“Our global competitiveness should in part be protected by our overseas manufacturing activities, but the continued volatility of exchange rates remains a concern as it must be to all international trading companies.
“As at the time of writing, the order input so far this financial year is 14 per cent up on this time last year and is at an historical high for the group.”