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.