Delphi profits up 7%

Delphi Corp., the world's biggest automotive components manufacturer has reported Q1 2003 revenues of $7.2 billion, up 7.4% from $6.7 billion for the same period in 2002.

Delphi's chairman J.T Battenberg III says: "We continued to face headwinds from pension and healthcare expenses, and were challenged by ongoing economic uncertainty that negatively affected the global automotive industry. Nevertheless, Delphi's relentless focus on customer diversification, combined with leverage of our game-changing technologies and application of Lean principles to drive efficiencies throughout the enterprise, helped us achieve our targets.”