GKN deficit doubles to £714m after FRC probe into asset-backed contribution

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GKN has seen the deficit in its UK schemes more than double after amending an asset-backed contribution structure (ABC) to address concerns raised by the Financial Reporting Council (FRC).

The engineering firm's annual results to the end of December, published today, show the deficit jumped from £341m to £714m on an accounting basis over the year. It said this was primarily the re...

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