GKN Posts Lower Q1 Pretax Profit

GKN PLC

reported a drop in its pretax profit in the first quarter. GKN's sales rose to 1.89 billion pounds, from GBP1.74 billion, in the year-ago period. Its trading profit fell to GBP139 million from GBP141 million, while pretax profit declined to GBP119 million from GBP124 million. GKN shares closed at $3.80 yesterday.