(Reuters) - Italian premium brake maker Brembo posted on Thursday an 8.5% yearly increase in first-quarter operating profit as revenues grew to a record 1 billion euros in the quarter.

Brembo's January-March operating profit (EBIT) stood at 112.8 million euros ($121.06 million), while its net profit marginally decreased to 75.2 million euros from 76.8 million euros.

The group said in a statement it sees for 2024 moderate revenue growth and margins in line with 2023.

($1 = 0.9318 euros)