UPDATE 3-Car parts group Valeo Q1 profits up, keeps '08 goal

Newswire

(Adds comments from news conference, share and analyst reaction) By Marcel Michelson 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. The shares jumped nearly 5 percent and analysts at Landesbanki Kepler said the group looked strong going into 2008, helped by lower debts and by managing to pass on more raw material ...

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