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GKN PLC profit misses consensus by 47.6% in H1

GKN PLC said its first-half normalized net income amounted to 7 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 14 pence per share.

EPS declined 8.3% year over year from 8 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £125.5 million, a decline of 5.4% from £132.6 million in the year-earlier period.

Total revenue grew 17.2% on an annual basis to £4.24 billion from £3.62 billion, and total operating expenses grew 17.5% on an annual basis to £3.96 billion from £3.37 billion.

Reported net income came to £163.0 million, or 10 pence per share, compared to £163.0 million, or 10 pence per share, in the year-earlier period.