UPDATE 1-Car parts group Valeo Q1 profits up, keeps '08 goal

Newswire

(Adds details, CEO comments in newspaper) PARIS, April 25 (Reuters) - French car parts group Valeo posted a forecast-beating 21.6 percent rise in first quarter operating profit on Friday despite a weaker automotive market, helped by cost cuts and asset sales. Valeo, which has been under pressure from activist fund Pardus Capital Management to boost value for shareholders by stepping up divestments or considering a break-up, kept its goal to improve its operating margin in 2008. ...

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