PARIS, April 11 French auto parts maker Faurecia
reiterated its full-year earnings goals on Tuesday
after quarterly sales rose 10 percent, predicting that growth
would continue through the next three months.
The maker of car seats, exhaust systems and interiors said
revenue rose to 4.23 billion euros ($4.49 billion) in
January-March from 3.84 billion a year earlier.
Despite some analysts' concerns about the possibility of an
auto market slump in North America - where Faurecia does 28
percent of its business - the company reiterated its 2017 goals,
including a 6 percent sales increase and an operating margin
between 6.4 percent and 6.8 percent.
"We expect the positive momentum to continue at least in the
second quarter," Chief Executive Patrick Koller said in the
First-quarter sales grew by 3.5 percent in Europe,
Faurecia's biggest region, by 11.3 percent in North America and
17.3 percent in Asia. Seating led the sales growth by division,
with a 13.5 percent gain.
($1 = 0.9414 euros)
(Reporting by Laurence Frost; Editing by GV De Clercq)