Feb 22 (Reuters) - Canada’s Magna International Inc reported an 18.4 percent drop in quarterly profit on Friday, as the world’s third-biggest auto parts supplier by sales was hit by tepid demand from China and Europe.
Net income attributable to Magna fell to $456 million, or $1.37 per share, in the fourth quarter ended Dec. 31 from $559 million, or $1.54 per share, a year earlier.
The Aurora, Ontario-based company said total sales rose to $10.14 billion from $9.68 billion.
Reporting by Susan Taylor and Shanti S Nair; Editing by James Emmanuel
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