04:23 PM EDT, 08/08/2024 (MT Newswires) -- Linamar ( LIMAF ) after-hours on Thursday said its profit and revenue rose in the second quarter, while announcing the appointment of Jim Jarrell as chief executive officer.

The auto parts manufacturer said its adjusted profit, excluding most one-time items, rose to $188.4 million, or $3.06 per share, from $160.8 million, or $2.61, last year. The result beat the consensus analyst forecast of $2.99 per share, according to Capital IQ.

Linamar ( LIMAF ) booked sales of $2.85 billion, which missed the Capital IQ forecast of $2.95 billion, but was 11.6% higher than last year's $2.55 billion.

Linamar ( LIMAF ) maintained its quarterly dividend at $0.25 per share.

The company also announced that Jim Jarrell has been appointed chief executive officer, following a multi-year succession transition plan. He succeeds Linda Hasenfratz, who will remain as executive chair. Jarrell, who has been with Linamar ( LIMAF ) since 1991, was appointed president of the company in 2004.

Linamar ( LIMAF ) closed $2.11 higher on the Toronto Stock Exchange, to $63.30.