February 21, 2020 / 10:10 AM / 6 months ago

Magna International reports 3.5% drop in quarterly profit

Feb 21 (Reuters) - Canadian auto parts maker Magna International Inc reported a 3.5% drop in quarterly profit on Friday, hurt by weak automobile production in North America and a labor strike at General Motors Co, its biggest customer.

Net income attributable to Magna fell to $440 million in the fourth quarter ended Dec. 31 from $456 million a year earlier.

Total sales fell 7.3% to $9.40 billion. (Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)

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