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CORRECTED-Spain's Gestamp says 9-mth core profit up 10 pct year-on-year
November 29, 2016 / 12:45 PM / 10 months ago

CORRECTED-Spain's Gestamp says 9-mth core profit up 10 pct year-on-year

(Corrects core profit figure, paragraph 1)

MADRID, Nov 29 (Reuters) - Spanish car parts maker Gestamp, which is planning an initial public offering in the next few months, said on Tuesday core profit rose 10.2 percent in the first nine months from a year earlier to 584.9 million euros ($620 million).

The company, which supplies components to manufacturers from Volkswagen to Renault in 20 countries around the world, reported nine-month sales of 5.4 billion euros, up 5.8 percent year-on-year.

The family-owned company, worth about 3.3 billion euros based on the sale last month of a 12.5 percent stake to Japan’s Mitsui for 416 million euros, plans to list more than 25 percent depending on market conditions. ($1 = 0.9429 euros) (Reporting by Andres Gonzalez; Writing by Paul Day; Editing by David Clarke and Alexander Smith)

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