Valeo H1 profit rises 30 pct, helped by cost curbs

Newswire

PARIS, July 27 (Reuters) - French car parts maker Valeo said first-half net income surged 30 percent to 218 million euros ($316.7 million) as cost cuts paired with higher sales outweighed a rise in raw material costs. Sales in the first six months of the year rose 13 percent to 5.33 billion euros, bolstered by original equipment demand, Valeo said in a statement on Wednesday. ($1=.6884 Euro) (Reporting by Helen Massy-Beresford; Editing by James Regan)

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