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GKN continues to forecast growth in 2015

Reuters - UK Focus

LONDON, May 6 (Reuters) - British engineering company GKN said it expected to grow in 2015, repeating guidance given in February, as it reported a 1 percent rise in organic sales for the first three months of the year.

GKN (LSE: GKN.L - news) , which supplies components to car makers such as Volkswagen (Other OTC: VLKAF - news) and plane-makers Airbus and Boeing (NYSE: BA - news) , said its automotive business continued to outperform the growth of that market, as expected.

The market for parts for agricultural vehicles, however, weakened, GKN said.

The company added that its margin was ahead of last year, benefiting from currency moves, as the benefits of the strengthening of the dollar against the pound outweighed the impact of a weakening euro.

(Reporting by Sarah Young, Editing by Paul Sandle)