UK-based engineering group GKN has posted 2013 operating profit up 20% helped by strong organic growth in its automotive businesses.

The company posted overall underlying pretax profit of GBP578n for the year, ahead of analyst estimates and up 17% on the previous year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Nigel Stein, GKN Chief Executive, said that GKN has made good good progress in-line with its strategy to grow a market-leading global engineering business. “We expect the group’s progress to continue in 2014,” he said.

GKN’s higher profits were driven by a strong performance in its automotive business, with demand in China and North America boosting trading profit in GKN’s Driveline business by 5%.

GKN Driveline operations also benefited from continued expansion Mexico and a joint venture in China was broadened to include all-wheel drive (AWD) products

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now