GKN upbeat as profits rise

British industrials group GKN beat first-half profit forecasts, driven by new products and strength in emerging markets in its automotive business, and tipped its aerospace division to improve in the coming years. GKN, which produces components for Airbus and Boeing, reported a 14 per cent rise in pre-tax profit to £200m on sales 11 per cent higher at £2.98bn for the six months to the end of June.