MILAN, July 31 (Reuters) - Italian brake maker Brembo said net profit rose 21.5 percent in the first half of this year thanks to better performances in the United States and Asia, where auto sales are rising, and Germany, where high-performance cars are selling well.
The firm, which makes brakes for Ferrari and BMW, said on Wednesday it expected revenues in the second half of the year to be in line with the first half.
Brembo sales rose 8.6 percent to 762.8 million euros ($1 billion)in the first six months, while its net profit rose 21 percent to 43.2 million euros.
Brembo has been able to ride out falling sales in Italy - its third largest market - by investing in factories in emerging markets and the United States, said Executive Deputy Chairman Matteo Tiraboschi in an interview.
The United States overtook Italy to become Brembo’s second market in the second half of 2011.
“The company is reaping the benefits of a decision to up investments in plants and R&D that was made during the crisis of 2009,” said Tiraboschi.
Brembo said in June it planned to invest 115 million euros to further expand in the United States and Brazil. Tiraboschi said Brembo was looking at expanding production into Russia in a few years’ time.