On a busy day for corporate news, engineering group GKN is roaring ahead.
The company had been under pressure due to worries about the strength of sterling hitting its figure, but it has reported a 6% rise in half year profits to £296m and raised its interim dividend by 8%. It said growth at its driveline business which supplies components to car makers had offset the effects of currency fluctuations. Chief executive
We have continued to outperform our key markets and report good underlying financial results in spite of sterling's strength and some end market weakness. We expect these trends to be maintained in the second half.
The optimism has lifted the shares 21.6p higher to 364.7p, with analysts at
The shares have underperformed the
Next has added 155p to £66.75 as it raised its sales and profits guidance for the second time in three months after a strong second quarter performance. It said it expected full year profits of £775m to £815m, up from the previous forecast of £750m to £790m. The star performer, once more, was Next Directory, with sales up 16.2%. Store sales were 7.5% higher.
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