Canadian auto parts maker Linamar Corp. on Wednesday reported a 21.8 per cent increase in quarterly profit, helped in part by the 2016 acquisition of France's Montupet S.A.
Linamar bought Montupet for 771 million euros (CDN $915 million) to boost its exposure to manufacturers like Volkswagen AG and Peugeot SA.
The deal gave Linamar access to Montupet's complex aluminum castings technology.
The company's net earnings rose to CDN $116.1 million, or CDN $1.76 per share, in the fourth quarter ending Dec. 31, from CDN $95.3 million, or CDN $1.45 per share, a year earlier.
Analysts on average had expected earnings of CDN $1.66 per share, according to Thomson Reuters I/B/E/S.
The company also raised its dividend for the fourth quarter to 12 Canadian cents per share, from 10 Canadian cents.
Sales rose 10.6 per cent to CDN $1.37 billion in the quarter, missing estimates of CDN $1.41 billion.