The Financial Post reports in its Saturday, Aug. 9, edition that Magna International is raising its sales forecast for 2014 after profit climbed more than expected in the second quarter on strong demand in North America and Europe. A Canadian Press dispatch to The Globe reports that Magna, which is based in Aurora, Ont., saw net income climb to $510-million during the quarter from $415-million in the same period a year ago. On an adjusted basis, Magna earned $2.37 per share versus the consensus estimate of $2.22. Magna shares soared on Friday climbing $7.02 to finish in Toronto at $122.21. The stock is ahead 40 per cent this year. Second quarter sales increased 6 per cent to a record $9.46-billion, helping push the company to boost its sales forecast for the year to a range of $35.6-billion to $37.3-billion from a previous outlook of $34.9-billion to $36.6-billion. Magna's complete vehicle-assembly sales fell to $793-million in the quarter compared with $796-million a year ago. On Thursday, Magna declared a quarterly dividend of 38 cents for the quarter ended June 30. The dividend is payable on Sept. 12, 2014. RBC analyst Steve Arthur said buy Magna in The Globe on June 18 when it was worth $117.75.