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Magna increases its profit was $ 415 million in the second quarter

Magna increases its profit was $ 415 million in the second quarter picture #1

Magna International has exceeded analysts' expectations

Auto parts maker Magna International (TSX: MG) saw its second-quarter profit increased to $ 415 million or $ 1.78 per share this year, compared to $ 349 million or $ 1.48 last year.

Its revenues have exploded to $ 8.96 billion, up 16 percent compared to 2012.

The company evokes an increase of 7 percent of automotive production in North America during the last quarter, while European production slips 1 percent.

Magna has said that sales of assembled vehicles were up 23 percent to $ 796 million during the quarter, while volume climbed 17 percent to 39,000 units.

The Board of Directors of Magna declared Thursday a dividend of 32 cents per share payable on 16 September.

Magna has 123,000 employees in 314 factories and 89 centrs of development, engineering and sales in 29 countries.

Magna increases its profit was $ 415 million in the second quarter picture #2

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