GKN sales up £683 million and £444 million for new acquisitions

I asked  Redditch based GKN for a statement and they sent me 37 pages of figures and it’s very good news heres the basics.
GKN has lifted its profits after taking over two German companies last year.
Full year sales were up 13% for GKN, delivering a 15% boost in profitability for the UK-based automotive and aerospace parts company.
The FTSE 100 listed company delivered a 20% boost in share dividends (LSE: GKN), whilst full year share values rose 9% to 22.6p.
“2011 was a year of good growth,” comments Nigel Stein, GKN Chief Executive. “GKN achieved a strong financial performance with all four divisions at or near record profits.
“Each division has leading technology and market positions and out-performed their respective markets, with a strong pipeline of new business. GKN Driveline and GKN Land Systems were further strengthened with the two highly complementary acquisitions of Getrag Driveline Products and Stromag.
Financial highlights include: • Group sales up £683 million (13%) to £6.1 billion, an underlying increase of 10% • Excluding net £19 million Gallatin charge: o Trading profit of £487 million, up £76 million, an increase of 18% o Group trading margin of 8.0%, up from 7.6%, and increased targets set for three divisions • Profit before tax of £417 million (2010: £363 million), an increase of 15%. Reported profit before tax, £351 million (2010: £345 million) • Earnings per share up 9% to 22.6 pence per share (2010: 20.7 pence per share) • Return on average invested capital (excluding 2011 acquisitions) of 18.3% (2010: 17.0%), reflecting higher profitability • Final dividend of 4.0 pence per share, giving a total for 2011 of 6.0 pence per share (2010: 5.0 pence per share), a 20% increase • Net debt of £538 million (2010: £151 million), reflecting £444 million for new acquisitions

Sales rose strongly in all of the group’s four main divisions, but growth in its aerospace operation was dampened by US military spending cutbacks.

Its UK pension deficit also widened by £188m to £259m. GKN took over German company Getrag in a £283m deal, making it a world leader in components for off-road vehicles such as Jeeps

Analysts speculate that GKN, which is interested in strategic acquisitions in aerospace and land systems, might be looking at Volvo’s aero division.
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