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Valeo eyes 6.0 operating margin in Q4, 2003

PARIS, Oct 18 (Reuters) - French car-parts supplier Valeo said on Friday it was maintaining a prior target for an operating margin of six percent in the fourth quarter, and said that would be a good level to aim for next year.

"We are maintaining our six percent target for the fourth quarter," Chief Executive Officer Thierry Morin told a news conference on Valeo's third-quarter results, which were published late on Thursday.

Asked if the company would aim for the same operating margin in 2003, Morin said, "that seems like a good target".

Valeo, Europe's largest listed car parts manufacturer, reported an operating margin of 4.7 percent in the third quarter, as three-month operating profit climbed seven percent.