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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.
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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.
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