GO
Loading...

Canadian auto parts maker Magna's profit drops 18 pct

Wednesday, 6 Nov 2013 | 5:09 AM ET

Nov 6 (Reuters) - Canadian auto parts manufacturer Magna International Inc reported an 18 percent drop in quarterly profit, hurt by restructuring charges.

The company's net income fell to $319 million, or $1.39 per share, in the third quarter ended Sept. 30 from $390 million, or $1.66 per share, a year earlier.

The charges reduced net profit by $33 million, or 14 cents per share.

  Price   Change %Change
MG
---