Shares in GKN (GKN) climbed 3 per cent after sales at the maker of plane and car components rose an impressive 12 per cent in the first quarter. Recently acquired Fokker Technologies was responsible for the majority of this growth, with just 1 per cent being generated organically.
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Organic civil aerospace sales stagnated, as longstanding programmes ended and demand for military aircraft remained soft. That backdrop, coupled with a lower revenue mix from Fokker and further weakness in the agricultural equipment business, hit the group's trading margin.