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GKN Trading Statement

Trading statement reported:

Third-quarter margin performance was lower than the comparable period a year earlier, mainly due to program transitions and operational challenges in its Aerospace North America division
Expects to have to provide for two unexpected claims, which it said were commercially sensitive, and could result in a charge of around 40 million pounds ($52.9 million) in the fourth quarter
It added that it achieved good organic sales growth during the period, with its Driveline division continuing to outperform the market

As of 8.30am the stock was trading down c.7.4% at c.326.5p


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