April 19 (Bloomberg) -- Randon Participacoes SA, a Brazilian auto parts maker, rose after reporting an increase in first-quarter sales.
Shares gained 1.6 percent to 12.50 reais at the close of trading in Sao Paulo, after earlier rising as much as 3.9 percent. The benchmark Bovespa Index gained 1.4 percent.
The Caxias do Sul-based company’s first-quarter sales rose 33 percent to 974.9 million reais ($485 million), according to a regulatory filing today. That compares with an estimate of 893 million reais, according to data compiled by Bloomberg.
The report “confirms our expectation of revenues recovery,” Lucas Marquiori, an analyst at Banco Safra SA, wrote in a research note to clients. Randon also will probably post an improvement in margins as pricing in its trailers business and volumes in auto parts increase, Marquiori wrote.
Randon has lost 1.5 percent this year while the Bovespa lost 12 percent.
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