Valeo posts 10 pct rise in Q1 net profit

Newswire

PARIS, April 23 (Reuters) - Europe's largest listed car parts maker Valeo posted a 10 percent rise in first-quarter net profit on Wednesday as tough cost-cutting helped it resist a wobbly European car market. Valeo said in a statement net profit in the first three quarters climbed to 22 million euros from 20 million previously, while operating profit rose to 109 from 98 million, good for an operating margin of 4.5 percent versus 3.8 percent. The bottom line lagged forecasts of six ...

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