Magna improves its sales and profit

The Canadian automotive supplier Magna International (TSX: MG) has unveiled Friday revenue and profit up sharply in the fourth quarter.

Its earnings figure was U.S. $ 351 million or $ 1.49 per share, compared to U.S. $ 312 million or $ 1.32 per share a year earlier.

Its revenues have improved by nearly U.S. $ 800 million to U.S. $ 8 billion.

The Toronto-based company, one of the largest automotive suppliers in the planet, attributes this improvement has its North American operations.

Its adjusted earnings is above 48 U.S. cents analysts' expectations, while revenues exceed approximately U.S. $ 300 million in their predictions.