Mexican Media Brands
GKN Boosts Operating Profit 19%
U.K.-based engineering firm GKN plc posted operating earnings of 142 million (€172 million) in the first quarter of this year compared to 119 million (€145 million) in the same period of 2011.
#economics
Share
U.K.-based engineering firm GKN plc posted operating earnings of 142 million (€172 million) in the first quarter of this year compared to 119 million (€145 million) in the same period of 2011. Revenue grew 17% to 1.7 billion (€2.1 billion).
The company's automotive unit, which makes axles, chassis and driveshafts, hiked its operating profit 28% to 64 million ( 78 million). Revenue rose 26% to 847 million (€1 billion). GKN credits the gains to strong luxury-car demand in China and the contribution of the Getrag Driveline business it acquired last summer.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.