UPDATE 1-Valeo sees higher operating margin in 2011

Newswire

* Sees global automotive market growth of 5 pct in 2011 * FY sales 9.632 bln vs 7.499 bln in 2009 * Swings to 365 mln net profit vs 2009 153 mln net loss (Adds more details from statement, shares) PARIS, Feb 24 (Reuters) - French car parts maker Valeo said it expected its operating margin to rise in 2011 after it swung back to a net profit last year. Demand for cars is growing strongly in emerging regions like China, Latin America and Russia, offsetting stagnant European markets. ...

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