Canada’s Magna International profit jumps 14.3 percent

Canada’s Magna International profit jumps 14.3 percent

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The Gaza Post|The News of Palestine-Ottawa

Canadian auto parts maker Magna International Inc posted a 14.3 percent rise in first-quarter profit on Thursday, helped by higher demand for mirrors and electronic components.

Net income attributable to the company rose to $660 million, or $1.83 per share, for the three months ended March 31 from $577 million, or $1.51 per share, a year earlier. nGNX8C81gz]

The Aurora, Ontario-based company’s sales rose to $10.79 billion from $8.90 billion.

Source: Reuters

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