GKN reports that the performance of its automotive business has helped it to achieve “positive” trading figures.

Announcing its results for the year ended 31 December, the Redditch-based engineering group said that its pre-tax profit was up 4% to £601 million (2013: £578 million), while its net debt of £624 million was £108 million lower than the previous year.

Chief executive Nigel Stein said: “This was another good performance, particularly by our automotive businesses, with GKN Driveline delivering 8% organic sales growth and an 8.1% trading margin. Looking forward, we expect 2015 to be another year of growth.”