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Auto Sector Drives GKN Results
British engineering giant GKN plc says sales by its driveline unit, which account for 45% of the company's total revenue, grew 8% to 3.4 billion (€4.6 billion) in 2014.
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British engineering giant GKN plc says sales by its driveline unit, which account for 45% of the company's total revenue, grew 8% to 3.4 billion (€4.6 billion) in 2014. The unit's trading profit rose 14% to 280 million (€382 million).
Group results were eroded by a stalled aerospace market and unfavorable exchange rates. The company's trading profit last year climbed 4% to 687 million. Overall sales declined 2% to 7.5 billion (€10.2 billion).
GKN expects this year's results to again be led by its automotive business. It says group gains will be "more modest."
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