Sales for the three months ended 31 March 2011 totalled £1,487 million, with adverse currency translation reduced sales by £7 million and acquisitions increased sales by £5 million.
The trading profit increased to £119 million, representing a 42% increase, with a margin of 8.0%. Profit before taxation was £107 million, up 51% compared with the prior year.
In the company’s automotive sector, global light vehicle production increased by around 4% in the first quarter to 19.4 million vehicles, with growth in the European premium vehicle segment and the Indian, North American and Chinese markets.
However, production in Japan was severely impacted by the earthquake and tsunami and some disruption has also been experienced in Europe and North America as a result of component supply problems from Japan.
The Powder Metallurgy sector’s first quarter sales increased 21% to £217 million, benefiting from growth in North American automotive production and new programme launches in North America and Europe.
"GKN made good progress in the first quarter and I expect this to continue,” said Sir Kevin Smith, Chief Executive, GKN plc. “Our four divisions are well placed to achieve a period of sustainable growth and margin improvement."