Car parts group Valeo Q1 profits up, keeps '08 goal


PARIS, April 25 (Reuters) - French car parts group Valeo posted a forecast-beating 21.6 percent rise in first quarter operating profit on Friday, helped by cost cuts and despite a weaker automotive market. Valeo, which has been under pressure from activist fund Pardus Capital Management, which has a stake of around 20 percent in Valeo, to boost value for shareholders, kept its goal to improve its operating margin in 2008. Operating profit rose to 90 million euros from 74 million in the ...

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