GKN margins squeezed by North America challenges

“GKN PLC (GKN.LN) said Friday that third-quarter margin performance was lower than the comparable period a year earlier, mainly due to program transitions and operational challenges in its Aerospace North America division” writes Dimitrios Kontos for The company said that it expects to have to provide for two unexpected claims, which it said were commercially sensitive, and could result in a charge of around 40 million pounds ($52.9 million) in the fourth quarter.The engineering business, which serves the aerospace and automotive markets, said that it expects pretax management profit for 2017 to be slightly above that of 2016. The company will announce its full-year results on Feb. 27.

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