GKN Posts Drop In Profit, Raises Dividend

GKN PLC GKNLY reported a decline in its profit for the year ended December 31 and lifted its dividend by 10%. GKN's pretax profit for the year slipped to 484 million pounds ($805 million), versus a year-ago profit of GBP568 million. Its sales climbed to GBP7.1 billion versus GBP6.5 billion, while net profit dropped to GBP395 million versus GBP465 million. GKN raised its total dividend for the year to 7.9 pence versus 7.2 pence.