GKN profit up 5 pct on aerospace growth
LONDON, July 30
LONDON, July 30 (Reuters) - Car and plane parts maker GKN posted a better-than-expected 5 percent rise in first half profit, led by a strong performance from its aerospace business.
The British firm on Tuesday reported a pretax profit of 278 million pounds ($426.71 million) in the six months to July, ahead of the average analyst forecast of 272 million pounds, according to a consensus forecast supplied by the company.
GKN, a major supplier to Airbus, Boeing and Ford, increased the interim dividend by 8 percent to 2.6 pence and said revenues grew 12 percent to 3.87 billion.
Shares in GKN, which have risen 20 percent in the last three months, closed at 327.60 pence on Monday, valuing the group at around 5.3 billion pounds.
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Suspect in Pennsylvania police ambush captured after seven-week manhunt |
- Global shares jump, yen slumps as BOJ cranks up stimulus |
- Special Report: Tsunami evacuees caught in $30 billion Japan money trap
- Inspiration for Harry Potter nemesis Umbridge revealed on website