No, it's just the usual sell on good news seen so often. This will turn around in no time. Broker upgrades needless to say but Jeffries too lazy to work out new figures. I'm positive with this one!
25 Feb '14
Do these results really justify a share price drop of over 3.5%? Encouragingly debt is down. I hope the sp picks up again.
25 Feb '14
LONDON, Feb 25 (Reuters) - 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 statement.
17 Jan '14
GKN’s Marcus Bryson to become President of UK trade organisation ADS Group / Aerospace Marcus Bryson, CEO GKN Aerospace, will take over as President of the UK’s premier Aerospace, defence, security and space trade organisation, ADS Group for the next two years. Mr Bryson will take up the role alongside his position as CEO of GKN Aerospace and Land Systems and that of co-chair of the successful and strategically important UK Aerospace Growth Partnership. Marcus Bryson, the incoming President of ADS Group commented: “This is an exciting time for our sectors: there has been great progress during the last two years and the prospects are good but we cannot afford to be complacent. The UK economy is starting to recover and essential key wealth producing sectors, such as ours, help to deliver the right growth for the UK economy’s long term sustainability. I’m thrilled and honoured to take up the position of President of ADS Group at such an important time.” Nigel Stein, GKN Chief Executive, said: “I would like to congratulate Marcus on this prestigious appointment. It is a huge honour for Marcus to be leading this important UK organisation and GKN is extremely proud to be strengthening our relationship with ADS.” Mr Bryson takes over the ADS Presidency from Robin Southwell, CEO of Airbus Group UK who held the position for two years. 15/01/2014 @ 10:00am
17 Jan '14
FTSE 100 Midweek
Auto engineering group GKN advanced on plans for its Driveline division to strengthen its global footprint with a new manufacturing plant in Russia - an "increasingly important" market, it said.
16 Jan '14
GKN Driveline expands into Russia
GKN Driveline, part of global Automotive and Aerospace engineering group GKN plc, is strengthening its global footprint with a new automotive manufacturing operation in the increasingly important Russian market. GKN Driveline is to initially open a 5,000 square metre plant in Togliatti, a city in the Volga region of Russia, where a number of large car manufacturers are already based. GKN production of constant velocity jointed sideshafts for a number of automotive customers is expected to commence in early 2015. Andrew Reynolds Smith, CEO GKN Automotive, said: “Russia is a key growth market for car manufacturers and this is an important step for GKN. A key part of our strategy is to continue the development of our global footprint, building the capability to add more value for our customers across a range of Driveline products. “GKN already supplies Driveline products to many of the large car manufacturers in Russia, but the new plant, which is the first of its kind in the country, will offer locally-produced products together with the excellent service our customers already expect from GKN.” The Russian automotive industry produces over two million cars each year. Production is forecast to grow driven by increasing demand and government policies that are aimed at creating new production facilities and additional investment in the automotive market. ( 15 jANUARY 2014 )
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