Success: GKN, who make airframes for aviation giants Airbus, tripled their profits last year
Mark Leftly15 April 2014
Aerospace and automotive engineer GKN wowed investors today with a storming set of first-quarter results, which could have been even better but for the strength of sterling.
Sales in January to March were up 1% to £1.915 billion and profit by 19% to £166 million on the same three months last year.
Without the adverse currency impact, sales would have grown by a further 6% and GKN would have made another £9 million profit.
Even though GKN chief executive Nigel Stein warned growth was likely to be “more modest” later in the year, the shares climbed by 2.75% to 384.3p.
