CANADA: Magna books surprise Q3 profit, returns to core business

Stay connected Subscribe to our RSS feed

Magna International has reported a surprise third quarter operating income of US$81m, net income of $51m and earnings per share of $0.45, increases of $193m, $266m and $2.38, respectively, year on year, benfiting from cost cutting an restructuring started last year as the credit crisis hit the auto sector. Total sales fell 16% to $4.7bn. Full story...