GKN group sales in the three months ended 30 September totalled GBP1,483m, an 11% increase year on year. Third quarter trading profit increased by 13% to GBP113m, before a GBP11m one-off charge relating to Gallatin and the trading margin was 7.6%. The group’s profit before taxation (before Gallatin) was GBP100m.
Global light vehicle production in the third quarter of around 18.3m vehicles, was 1% lower than the second quarter and 2% ahead of the comparable period in 2010. The largest increase over the second quarter was the recovery in Japanese domestic production offset by small car segment weakness in Europe.
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