PARIS, July 24 (Reuters) - French auto parts maker Valeo said its profit fell in the first half due to slowing car production in major markets.
Operating profit fell 32% to 514 million euros ($573 million), shrinking the operating margin to 5.3% of sales from 7.7% a year earlier, the Paris-based company said in a statement.
Net income fell by almost two-thirds to 162 million euros on a 1% slide in revenue to 9.776 billion euros. The company reiterated its full-year guidance for 2019.
$1 = 0.8973 euros Reporting by Laurence Frost; Editing by Susan Fenton