Sales at engineering giant GKN rose eight per cent in the last quarter, as strong demand from China and America’s automotive sectors made up for a weak European market.
The firm, which has a major automotive base in Hadley in Telford, enjoyed sales in the three months to September 30 of £1,608 million, eight per cent up on the same period last year. Third quarter trading profit increased slightly to £114 million.
Chief executive Nigel Stein said: “The group’s global footprint with its exposure to the strong markets of North America and China, as well as civil aerospace, allowed us to offset weaker European markets.
“Profit was affected by expected seasonal factors and operational issues in Driveline.”