Valeo sees rising profit margins

Newswire

PARIS, July 26 (Reuters) - French car parts supplier Valeo said on Friday it expected its operating margin to rise to six percent in the fourth quarter and forecast continued gains in the key measure of profitability next year. "We expect a margin for the fourth quarter of six percent," said Chairman Thierry Morin, speaking to reporters at a briefing following the release of first half results late Thursday. He said he expected the margin for 2003 to be above that registered in 2002.

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