March 5, 2013 / 12:35 PM / 5 years ago

Italy's Brembo raises dividend to 0.4 euros, sees more growh

MILAN, March 5 (Reuters) - Italian brake maker Brembo said on Tuesday it would pay a 2012 dividend of 0.40 euros per share, up 33 percent on the year, as profit surged driven by lower tax and higher sales in its main German and North America markets.

The company said in a statement its order book forecasts confirmed that revenues will continue to rise also in 2013 with margins expected to increase thanks to fuller utilisation of its plants.

“The balanced international growth and the positive order book in early 2013 allow us to be confident of our results also for the first part of the year,” Chairman Alberto Bombassei said.

Italy, its third biggest market, and France were hit by the difficult situation in the car market with sales falling 7.1 percent and 3.4 percent, respectively.

Net profit in 2012 rose 81 percent to 77.8 million euros ($101.21 million), while revenues grew 10.7 percent to 1.389 billion euros. ($1 = 0.7687 euros) (Reporting By Danilo Masoni, editing by Stephen Jewkes)

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