TORONTO -- Magna International said quarterly earnings jumped as vehicle production rose in North America, but added that improvements in European operations and the launch of new facilities around the world remained a focus for the company in 2012.
On Thursday, Magna said that fourth-quarter profit rose to $312 million, compared with earnings of $224 million in the year-before quarter.
Sales at North America's largest auto parts maker rose 13 percent to $7.25 billion during the quarter, boosting revenue for all of 2011 to $28.7 billion.
Vehicle production increased 15 percent in North America from the year-before quarter, but declined 4 percent in Europe.
Magna forecast sales of $28 billion to $29.5 billion this year.
North American vehicle production increased 10 percent to 13.1 million vehicles in 2011, including a fourth-quarter rise of 15 percent to 3.43 million units, Magna said.
U.S. sales of cars and light trucks increased 10 percent last year to 12.8 million.
Magna also raised its dividend to 27.5 cents a share from 25 cents. It is the first increase since February 2011.