GKN reports increased sales

GKN has reported increased sales for the six months that ended 30 June 2012.

Sales were up 16 per cent (£471m) to £3,459m and profits before tax increased 19 per cent to £266m.

A company statement read: ‘First-half trading has seen sales increases and margin progression for each of our four divisions and our new acquisitions, Stromag and Getrag Driveline Products, are performing well.

‘As a result of the strong performance and confidence in the future, the board has decided to increase the interim dividend by 20 per cent to 2.4 pence per share.’