In a time when many businesses are struggling, it’s good to hear that a company which employs many Islanders is continuing
A couple of weeks ago, The Financial Times ran an article focusing on engineering companies.
GKN, a company that has a number of sites on the Isle of Wight, is listed among seven others.
Happily they’ve made £180m pre-tax profits in the first half (H1) of 2010. The highest compared to the other companies listed.
Their share price has also risen 21.9% year-to-date.
2010 is treating them well with their organic growth up 25% in H1, a marked contrast to H1 2009, which was down 31%.
A notable difference between them and the other engineering companies is their operating margin, which is forecast to be 6.8% this year. The margins for the other companies is between 10.3% and 25.8% (Rotork).
Image: Chris Isherwood under CC BY-SA 2.0
