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Linamar Q1 net profits jump 84.1% yr/yr

Farm machinery and vehicle parts maker Linamar Rt had net profit of Ft 368 million (€1.4 million) in the first quarter of 2006, 84.1% more than in the same period a year earlier, largely due to better operating profits, the company said in its preliminary unconsolidated Q1 report, prepared with international accounting standards (IFRS) and published Friday.

Earnings per share rose to Ft 43 from Ft 23 in Q1 2005. First-quarter operating profits increased 115.2% to Ft 529 million compared to the same period in 2005 while first-quarter net financial losses rose from Ft 45.9 million to Ft 161 million. Both Linamar's farm machinery and vehicle parts segments were profitable, the report noted.
First-quarter revenue increased 15%, or Ft 792 million, to Ft 6.08 billion compared to the same period a year earlier. The vehicle parts segment accounted for Ft 571 million of the rise and the farm machinery division for Ft 221 million of the increase. Exports generated Ft 5.12 billion, up from Ft 4.657 billion in the same period a year earlier.