Italian brakes maker Brembo profits from international demand

lunedì 13 maggio 2013 11:54

MILAN, 13 maggio (Reuters) - Italian brakes maker Brembo reported a 9.3 percent yearly increase in operating profit for the first quarter of 2013 as sales growth abroad offset a significant drop in demand for cars and motorbikes in its beleaguered home market.

The Ferrari supplier posted operating profit for the period of 26.1 million euros ($33.86 million), supported by 14.5 percent sales growth in Germany, 17.8 percent in North America and a 50.2 percent jump in China compared to the previous year.

In recession-hit Europe, Brembo's French and Italian markets shrank by 21.3 percent and 1.5 percent respectively. The Brazilian and Japanese markets also contracted. ($1 = 0.7709 euros) (Reporting By Isla Binnie; Editing by Lisa Jucca)