Valeo SA has more than tripled first-quarter profit, reflecting an extraordinary tax refund, The Detroit News said.


Net income reportedly climbed to €74 million ($US88 million) from €22 million a year earlier though sales fell 1% to €2.42 billion.


The paper said the maker of windscreen wipers, lights and clutches plans to continue moving production to countries with lower labour costs than in Western Europe and the United States.