One of many UK’s largest engineering companies, GKN, has warned that full-year earnings will solely be barely above final yr.
GKN blamed “operational challenges” in its North American aerospace enterprise and a £40m cost ensuing from “two vital exterior claims”.
It stated the claims had been “commercially delicate” and gave no additional particulars.
In July, GKN stated it anticipated gross sales progress to beat the general market, however didn’t give a revenue forecast.
Shares in GKN fell 9% initially of buying and selling.