Feb 22 (Reuters) – Canada’s Magna International Inc stated an 18.4 percent drop in quarterly income on Friday, as the world’s 1/3-biggest car parts dealer through sales was hit with the aid of tepid demand from China and Europe.
As a result of Magna, net income fell to $456 million, or $1.37 in line with proportion, inside the fourth zone ended Dec. 31 from $559 million, or $1.Fifty-four according to the percentage, a yr in advance.
The Aurora, Ontario-primarily based organization stated total sales rose to $10.14 billion from $nine.Sixty-eight billion.
