Record quarterly profit for Lear
27/04/2015
Its sales of $4.5 billion were 4% from a year ago, while its $294 million profit was its best quarterly earnings, 21% higher than the equivalent period last year.
CEO Matt Simoncini said: "Our balanced strategy of investing in our business, maintaining a strong financial position and returning cash to investors is delivering superior value to both our customers and shareholders.
Describing US-based tannery group Eagle Ottawa, which it bought last August, as a “perfect complement”, he added: “We are continuing to win new business and improve our margins. The integration of Eagle Ottawa is progressing as planned. I believe we are in the strongest competitive position in our history and are well positioned to take advantage of major industry trends."
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