Magna International posts lower 4th qtr profit

Newswire

(In U.S. dollars unless noted) NEW YORK, Feb 27 (Reuters) - Canadian autoparts maker Magna International reported lower fourth-quarter profit on Wednesday. Net profit fell to $28 million, or 24 cents a share, from $29 million, or 26 cents a share, a year earlier. Sales rose 7 percent to $6.8 billion during the quarter as a result of increases in North American, European and rest of World production sales, offset in part by reductions in complete vehicle assembly sales, tooling, ...

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