July 20, 2017 / 3:58 PM / 2 months ago

Valeo LED lights and thermal systems drive 20 pct profit gain

PARIS, July 20 (Reuters) - French car parts maker Valeo said on Thursday profit rose 20 percent in the first half as demand for its LED lighting and fuel-efficient thermal systems helped sales to outpace the global auto market.

Net income rose to 506 million euros in January-June from 422 million a year earlier, the Paris-based company said.

Revenue increased 16 percent to 9.464 billion euros, short of the 9.558 billion expected by analysts, based on the median of nine estimates in an Inquiry Financial poll for Reuters.

The company reiterated full-year goals, including sales exceeding global auto demand growth by five percentage points and a slight increase in the group’s operating margin.

Reporting by Laurence Frost; Editing by Maya Nikolaeva

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