LONDON Feb 25 British car and plane parts maker
GKN reported a 17 percent rise in annual profit, beating
analyst expectations, as strong demand in its automotive unit
offset sluggish growth in military markets.
GKN, which makes chassis and axles for carmakers such as
Volkswagen and airframes for planemakers Airbus
and Boeing, on Tuesday posted pretax profit of
578 million pounds ($961.25 million), ahead of a
company-supplied consensus forecast of 565 million pounds.
"Although some of our end markets were challenging, we
continued to show growth. We expect the Group's progress to
continue in 2014," chief exectuive Nigel Stein said in a