Magna International: profits and targets up
(CercleFinance.com) - Magna International this Thursday reported profit growth for the first quarter of 2018 to 660 million dollars (+14% compared to the first three months of 2017).
The auto parts maker, headquartered in Toronto (Canada), also saw its adjusted EBIT increase from 818 million to 875 million dollars.
Following these results, Magna International reviewed its forecasts for the 2018 financial year. The company now anticipates sales of between 40.9 and 43.1 billion dollars (compared to 39.3 to 41.5 billion previously). Profits have been increased by 100 million (between 2.4 and 2.6 billion dollars).
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The auto parts maker, headquartered in Toronto (Canada), also saw its adjusted EBIT increase from 818 million to 875 million dollars.
Following these results, Magna International reviewed its forecasts for the 2018 financial year. The company now anticipates sales of between 40.9 and 43.1 billion dollars (compared to 39.3 to 41.5 billion previously). Profits have been increased by 100 million (between 2.4 and 2.6 billion dollars).
Copyright (c) 2018 CercleFinance.com. All rights reserved.