MILAN (Reuters) -- Italian brake maker Brembo reported a 51 percent rise in third-quarter net profit, boosted by higher sales and better margins, and forecast solid growth for the remainder of the year.
The company, which supplies brakes to carmakers including Ferrari, Aston Martin and Porsche, said net profit for the July-September period rose to 30.4 million euros ($38 million), while revenues increased 12 percent to 438.6 million euros.
Brembo is now targeting full-year sales to grow about 14 percent to 15 percent, Deputy Chairman Matteo Tiraboschi said on Thursday. The company previously had forecast 2014 revenues growing 13 percent.
"Given that the last quarter is usually the most difficult, we expect a number of slightly below 16 percent for the full year, probably between 14 and 15 percent," Tiraboschi said.
Tiraboschi also said Brembo would "very willingly" consider possible acquisition opportunities matching its expertise and technological niche, but was not examining any specific deals at the moment.