AURORA, Ont.—Magna International Inc. earned $503 million (U.S.) in its third quarter as its sales climbed 7 per cent. The Ontario-based auto parts company, which keeps its books in U.S. dollars, says the profit amounted to $1.36 per diluted share for the quarter ended Sept. 30. That compared with a profit of $503 million or $1.29 per diluted share a year ago when the company had more shares outstanding. Sales totalled $9.5 billion, up from $8.85 billion. The company says the increases came as European light vehicle production grew 8 per cent and North American light vehicle production fell 7 per cent compared with a year ago.

Source: thestar November 09, 2017 18:33 UTC