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Absolutely agree with you there, people coming into the market now are going to make an absolute killing on shares like this one. I've got a Stocks & Shares ISA that I'm going to fill up solely with undervalued companies such as GKN, some bargains to be had at the moment, for sure.
So many stocks are massively oversold at present. I missed this as I was over-committed. But next time this craze comes around, I will most definitely be ready.
This share is incredibly cheap now, given that it was heavily tipped just two weeks ago by almost all the major sites such as Investors Chronicle and the Telegraph. So many tempting buys out there at the moment of which this is most definitely one.
First half pre-tax profits at GKN (GKN) rose 14.3% to 223 million pounds, with strong sales growth, up 11% at 2.99 billion pounds. The engineering company expects to see global light automotive vehicle production reach 78 million in 2011, with strong growth prospects in India, but anticipates a slow down in China. The group anticipates a reduction in demand for its aerospace technology in the US over the second half of the year, as the C-17 carrier programme is reduced. The shares fell 3.3p to 213.7p.
Starting to recover from the opening fall. With the exception of the Aerospace division it looks to be a decent set of reults and in fairness the wealth of new orders in Aviatation won't start to impact revenues until next year at the earliest I'd imagine.
UBS has upgraded GKN ahead of its interim results, which are due tomorrow, with a target price of 250p. Hopefully this will start to rise again as there's a fundamentally solid business here, which just about everyone is tipping at the moment.
That's two sizeable acquisitions in as many weeks for GKN now, which shows that thery're clearly looking to expand the business. Also interesting that they're high-quality German-based firms - keen to see what the market makes of the news as the sp has taken a bit of a battering in the past two or three days.
http://www.investegate.co.uk/article.aspx?id=20110722090525P503D&fe=1 Standard Life Investments has increased its holding to over 12% of GKN now.
Nigel Stein, CEO of GKN Driveline said: "This strategic addition will enhance GKN Driveline's ability to meet its customers' needs in drivetrain electrification. It is aligned with our strategy of supporting vehicle manufacturers as they search for fuel savings and reduced CO2 emissions through hybrid and electric drive vehicles." David Latimer, CEO of EVO Electric said: "This alliance with one of the automotive world's leading `Tier One' suppliers and a leader in electric-drive axle and transmission technology represents a major break-through for us. It will be pivotal in establishing EVO as a key player in the fast-growing global market for electric drive components."
Re Joint Venture NEWS RELEASE GKN plc 22 June 2011 GKN Driveline expands into electric motors GKN Driveline, the world's leading supplier of automotive driveline systems and solutions, has formed a joint venture with EVO Electric Ltd, a UK pioneer in advanced electric drive solutions for the automotive sector. The new business, GKN EVO eDrive Systems, will manufacture and sell axial flux electric motors and drive systems for use in hybrid and all-electric vehicles. GKN will also acquire 25.1% of EVO Electric. GKN will provide financing in a combination of debt and equity together with engineering and commercial resources to enable the establishment and growth of the joint venture. The total value of GKN's investment at closing is £5million consideration in cash.
http://www.investegate.co.uk/Article.aspx?id=20110622093043P86FE
Explosion at Hoeganaes facility, Gallatin, USA On Friday 27 May 2011, there was an explosion at the GKN Hoeganaes Corporation plant in Gallatin, Tennessee, USA. Gallatin produces atomized metal powders for use in manufacturing sintered metal products and has revenues of around $250 million per year from sales to sinter metals customers. Five employees were hurt in the incident, two of whom have sadly died of their injuries and a third remains in a critical condition. Two employees were slightly injured and were released from hospital the same day. The Company is providing the families with every means of comfort and support at this difficult time. GKN has implemented a full plant safety review, supported by two independent organisations, to ensure that it fully understands the cause of the incident and implements appropriate measures to prevent a recurrence. We are also co-operating with the relevant authorities (US Chemical Safety Board and Tennessee OSHA) to establish the cause and, although investigations continue, initial indications suggest a hydrogen gas leak. Production at the Gallatin facility has been suspended since the incident on 27 May 2011. It is expected that limited production will recommence next week, with the plant being brought back to full production over the next several weeks as the safety review and any remedial works from the incident are completed....................................................
http://www.investegate.co.uk/Article.aspx?id=20110616160519P2925
latest episode from iii - good exposure http://www.iii.co.uk/tv/episode/gkn-gkn
Dividend day of 3.5p today and shares up 4.5% as well thanks to RBC upgrade to outperfom. Think i'll have a beer tonight.
Japan quake hurts GKN car operations Date: Monday 11 Apr 2011 LONDON (ShareCast) - Automotive and aerospace engineer GKN said its car operations have been impacted by the recent earthquake in Japan, though market conditions have otherwise been as expected in the first quarter. Sales were up by 14% from the same period a year ago to £1.49bn, while pre-tax profits rose by more than 50% to £107m. “Global light vehicle production increased by around 4% in the first quarter to 19.4 million vehicles, with good growth in the European premium vehicle segment and the Indian, North American and Chinese markets,” GKN said. “Production in Japan was severely impacted by the earthquake and tsunami and some disruption has also been experienced in Europe and North America as a result of component supply problems from Japan.” GKN said that Japanese manufacturers are planning to resume production in April and May “although it will be some time before the industry is in a position to catch up on production lost through the first half.” The component supply problems reported by GKN have also hurt UK operations of Japanese car manufacturers such as Nissan, which is closing down production at its Sunderland factory for three days this week due to parts shortages. “GKN has excellent new products and technologies which are aligned with our customers' desire to have smaller, lighter and stronger components and systems, offering improved efficiency, lower fuel consumption and greater environmental benefits,” said GKN chief executive Kevin Smith. “Our four divisions are well placed to achieve a period of sustainable growth and margin improvement."
Why the 8p drop in 3 1/2 hours trading this morning? Glad I sold at £2.10 on the 5th prior to new tax year. Will get back in soon now as the dividend is coming soon. Still doesnt answer the question why the 8p drop in 3 1/2 hours?
LONDON (ShareCast) - RBS keeps its ‘buy’ on GKN and raises the target price from 225p to 235p, as it expects the blue chip aerospace and vehicles engineer to enjoy a "steady recovery in global automotive production".
GKN chief engineers departure By Lee Wild Date: Thursday 24 Mar 2011 LONDON (ShareCast) - GKN, the blue chip aerospace and vehicles engineer, will wave goodbye to longstanding chief executive Sir Kevin Smith at the end of 2011. Sir Kevin has led the company for the last eight years – he became CEO in January 2003 - and had a seat on the board since 1999 when he headed the aerospace division. "GKN is a great company with a fantastic team of people. I am proud to have led them through a period during which we have transformed the group into a premier global engineering company,” he said Thursday. His place at the helm will be taken by Nigel Stein, former group finance director and boss of the automotive unit for the past four years. Earlier this month, GKN announced it had bounced back into the black in 2010 as all divisions bar aerospace saw good sales growth. Profits came in at £345m in 2010, a near £400m swing from losses of £54m the previous year. Sales rose by 20% to £5.1bn and by 22% on an underlying basis. Trading profit was £411m, up £255m, and trading margins more than doubled to 7.6%.
GKN has a strong balance sheet, a good emerging-markets presence that should help to take up the slack elsewhere, and the benefit of aerospace growth taking off just as the resurgence in the auto industry begins to settle down. Moreover, the shares remain affordable, trading as they do on a forward-earnings ratio of 10.1 times. With plenty of ground still to make up from recessionary falls, there is still much headroom for future gains. Don't give in to temptation to take profits. Buy says the Independent.
March 2 (Reuters) - Gkn PLC: * JP Morgan raises Gkn price target to 240P from 227P
Rising demand for new cars in China, India and North America helped engineer GKN (GKN) swing back into profit for the year ended 31st December 2010 and deliver a broadly upbeat assessment of its prospects in 2011. The maker of parts for the automotive and aerospace industries reported an annual pre-tax profit of 345 million pounds, having suffered a 54 million pounds loss in 2009. Sales rose 20% to 5.08 billion pounds, fuelled by strong growth in its driveline, powder metallurgy and land systems divisions. GKN shares moved down 7.55p to 202.35p.
GKN swings £400m into big profit Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - Aerospace and vehicles engineer GKN bounced back into the black last year as all divisions bar aerospace saw good sales growth. Profits came in at £345m in 2010, a near £400m swing from losses of £54m the previous year. Sales rose by 20% to £5.1bn and by 22% on an underlying basis. Trading profit was £411m, up £255m, and trading margins more than doubled 7.6%. Drivelines sales rose by 35% with driveshaft demand especially strong as the auto industry recovered from the 2009 crisis. Powder Metallurgy sales rose 48%, while Land Systems sales were up 18%. Aerospace sales fell 2% but GKN says it has picked up $1.5bn of additional orders. The outlook for our major markets is positive although some uncertainty remains, particularly around macro-economic conditions, it says. In automotive, external forecasts suggest that global light vehicle production should reach just over 78m vehicles in 2011, an increase of 5%, with the strongest growth in China and India and continuing market recovery in North America. Production in Western Europe is expected to be broadly flat. In aerospace, US military aircraft market demand is expected to show a small reduction as the rundown of the F-22 programme and a decrease on the C-17 are partially offset by increases on other programmes. Civil aircraft production is expected to return to growth in 2011 as both Airbus and Boeing increase production schedules. “GKN expects 2011 to be a year of good progress for the Group. As end markets continue to improve, the strength of our market positions and order books leaves GKN well placed for a period of sustained growth, margin expansion and strong free cash flow generation,” it added. A final dividend of 3.5p per share, gives a total dividend 5p.