LONDON - UK indystrial and engineering group GKN plc posted a full-year profit rise of 11 percent before tax and exceptional items to 13 million (46 million) - in line with market expectations
Sales climbed 25 percent to 4.64 billion from 3.71 billion last year.
GKN's automotive business saw a solid performance, said Chief Executive C.K. Chow. Operating profits at the automotive parts and sintered metals arm climbed 11 percent to 273 million and sales rose 7.4 percent to 2.4 billion.
The group said it is positioned to take advantage of the growth in the Internet and e-commerce opportunities. Its automotive business recently launched an Internet-based service to share knowledge and speed up response times to customers.