GKN plc, a British airplane parts maker, announced today that it has returned to profit in the first quarter of the fiscal ended March 31. GKN said that the first quarter was reported profitable as the aerospace supply sector showed the signs of improvement in the first three months of the year.

GKN produces airframes, engine structures and components for plane makers Airbus and Boeing. GKN said that the group has seen a good progress in all its major businesses in the first quarter. GKN also said that it has agreed to pay £30m per annum into its pension fund for the next 20 years.

GKN said that the profit before tax was reported of £71 million in the first three months of the year, while the group reported a loss before tax of £28 million in the same quarter last year. GKN reported that the group trading profit was posted of £84 million in the first quarter of the fiscal comparing to a trading loss of £12 million in the previous corresponding period.

Total sales of GKN were reported of £1.306 billion in the first quarter, increasing by 22% while it was reported of £1.074 billion in the same period last year. However, GNK said that the aerospace sales were reported down by 7% at £353 million in the first quarter of the fiscal, while it was reported of £381 million in the same quarter last year.