August 14, 2008 / 8:25 PM / in 10 years

UPDATE 1-Linamar profit rises on European sales

(Adds details)

TORONTO, Aug 14 (Reuters) - Linamar Corp (LNR.TO) reported a 2 percent rise in second-quarter profit on Thursday as stronger European powertrain sales offset weaker North American results.

The company, which makes precision automotive components for engines and transmissions, earned C$31.9 million ($30.1 million), or 48 Canadian cents a share, in the three months ended June 30. That was up from a profit of C$31.3 million, or 45 Canadian cents a share, a year earlier.

Analysts had expected earnings of 46 Canadian cents a share, according to Reuters Estimates.

    Guelph, Ontario-based Linamar said sales rose to C$625.4 million from C$624.4 million in the second quarter a year earlier.

    Linamar released its results after markets closed. During the day, its shares rose 8 Canadian cents to finish at C$11.53 on the Toronto Stock Exchange.

    $1=$1.06 Canadian Reporting by Cameron French; Editing by Peter Galloway

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