GKN Caps 2019 with Stronger Sales, New Bizav Contracts

UK-headquartered aerostructures, components, and systems provider GKN Aerospace reported a 7 percent increase in sales in 2019 and a jump on future business with a couple of key contracts, including from Gulfstream Aerospace and Aerion Supersonic. At the same time, GKN said it anticipates some negative impact in 2020 related to the COVID-19 outbreak. GKN Aerospace brought in £3.852 billion ($5.03 billion) in revenue and posted a profit of £409 million for the year, exceeding expectations, it said. This compares with 2018 results of £3.534 billion in revenue and profit of £341 million. Operating margin was up from 9.9 percent in 2018 to 10.6 percent last year.