Automotive boost for GKN
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Thursday 04 August 2011
GKN posted forecast-beating results yesterday as growth in its automotive business helped to drive half-yearly pre-tax profits up by 14 per cent to £200m.
The jump came as the industrial group's sales climbed to nearly £3bn, with chief executive Kevin Smith saying that he expected to grow GKN's automotive revenues faster than global automotive production in coming years.
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