GKN
Sales £3.85bn Dividend 2.9p
There was a sense of déjà vu about GKN’s presentation to the City yesterday over the purchase of Fokker Technologies, the Dutch aerospace company. In October 2012 the company completed the purchase of part of another historic name in European engineering, the aero engine division of Volvo.
This brought with it a business that had margins below 10 per cent at the time, but as part of GKN these rose to the 11 per cent to 13 per cent range that the company generally has within its aerospace business.
Fokker looks similar. Again, margins are below 10 per cent for a business making a range of parts for the aerospace industry; again, GKN reckons that it can save the equivalent