US: Delphi Q1 operating profit rises

Delphi Automotive has reported first quarter 2014 operating income up 12% to US$483m on sales up 6% to $4.3bn.

“Overall, Delphi had an outstanding first quarter of 2014, with strong earnings on revenue growth that was in-line with our expectations,” said CEO and president Rodney O’Neal, chief executive officer and president. “We believe we are well-positioned for the remainder of 2014.”

The supplier said strong growth in Asia (12%) and North America (8%) boosted sales. Europe sales rose 2% but economic ands currency woes saw South America sales fall 9%.

Net income rose to $320m and earnings per share of $1.04 versus $276m and $0.88 in Q1 2013.

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