British industrial conglomerate GKN today returned to the London Stock Exchange’s premier company index, the FTSE 100, after a six year absence.
In its half year trading update the company announced that it had exceeded its expectations so far in 2010 with its automotive performance in particular well above its forecasts. Sales across the company are at £2.7bn, up from £2.1bn in the first half of 2009, while profits increased to £202m from £25m.
The company has won more than $1 billion of long term contracts for aero engine products this year.
GKN replaces fellow engineering firm Tomkins in the index.