GKN PLC said its second-half normalized net income amounted to 4 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 13 pence per share.

EPS climbed year over year from 1 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £61.1 million, an increase from £20.8 million in the prior-year period.

Total revenue climbed 5.8% on an annual basis to £3.62 billion from £3.42 billion, and total operating expenses rose 6.3% year over year to £3.37 billion from £3.17 billion.

Reported net income totaled £33.8 million, or 2 pence per share, compared to a loss of £14.5 million, or a loss of 1 pence per share, in the year-earlier period.

For the year, the company's normalized net income totaled 13 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 27 pence.

EPS rose 27.5% from 10 pence in the prior year.

Normalized net income was £215.0 million, an increase of 29.8% from £165.6 million in the prior year.

Full-year total revenue increased on an annual basis to £7.23 billion from £6.98 billion, and total operating expenses rose year over year to £6.73 billion from £6.49 billion.

The company said reported net income increased 16.8% on an annual basis to £196.8 million, or 12 pence per share, in the full year, from £168.5 million, or 10 pence per share.