GUELPH, Ont. — Linamar Corp. says it earned $104.4 million in the fourth quarter of 2023, up from $92.2 million a year earlier.

The Guelph, Ont.-based manufacturing company says sales were $2.5 billion, up from $2.1 billion during the same quarter in 2022.

Diluted earnings per share were $1.69, up from $1.49.

Earnings in 2023 rose year over year to $503.1 million, while sales for the full year also rose, to $7.9 billion.

Executive chair and CEO Linda Hasenfratz said the company is looking forward to another year of double-digit growth in 2024.

The company increased its dividend to shareholders to 25 cents per share.

This report by The Canadian Press was first published March 6, 2024.

Companies in this story: (TSX:LNR)

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