Autoliv Q1 better than expected, tweaks 2013 sales forecast higher
STOCKHOLM, April 26
STOCKHOLM, April 26 (Reuters) - Autoliv, the world's biggest maker of car safety equipment like seatbelts and airbags, reported first quarter earnings on Friday which rose more than expected and it said it was helped by higher sales in China.
The Swedish company was also slightly more optimistic about sales growth this year, expecting an organic sales rise, which strips out acquisitions and currency movements, of 2 to 4 percent, rather than the 1 to 3 percent expected before.
Pretax profit for the first quarter of 2013 rose to $170 million from $141 million in the same period of 2012, beating the average forecast in a Reuters poll of $162 million.