12th May 2006 11:24
12 May 2006 GKN Chairman's AGM Statement At the Annual General Meeting of GKN plc in London today, Roy Brown, Chairman,made the following statement in relation to current trading:"Trading conditions in the first four months of the year have been in line withthe broadly stable outlook we reported in February.In Automotive, North American and European production volumes have run at asimilar level to last year, with growth seen in Asia Pacific markets,particularly China, benefiting our joint ventures in the region.OffHighway markets, although steady, are slightly below that seen in lastyear's very strong first half.Aerospace markets remain strong with higher civil demand and militaryprogrammes broadly unchanged.However, raw material and energy costs have seen increases in recent weeks tolevels somewhat above those anticipated in February with little signs of anyeasing in the short term.Against this background, the Group has made a solid start to the year, withtrading profits to April slightly above the level of the equivalent period lastyear, even after absorbing charges for redundancies announced earlier this yearin the UK Cylinder Liner business.Looking ahead, whilst risks still remain, particularly in North Americanautomotive markets, our expectations for the year as a whole remain as reportedin our February Outlook Statement. 2006 should be a year of continuing progressfor GKN, with the further benefits of the on-going strategic restructuringprogramme still expected in 2007."Enquiries:GKN Corporate Communications020 7463 2354ENDGKN PLCRelated Shares:
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