Magna profit rises on strong North America sales

Fri Mar 1, 2013 5:20am EST
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March 1 (Reuters) - Magna International Inc, one of the world's largest auto parts makers, reported a 12.5 percent rise in profit on strong sales in North America.

Fourth-quarter profit rose to $351 million, or $1.49 per share, from $312 million, or $1.32 per share, a year earlier.

Sales rose 11 percent to $8.03 billion.

"We achieved this sales increase in a period when vehicle production increased 12 percent in North America," the company said in a statement.