Continental: raises 2017 sales forecast further.

(CercleFinance.com) - German auto parts and tyre maker Continental has once again raised its full-year sales target on Thursday, after reporting solid interim figures.


The Hanover-based group said that it has raised its forecast for annual sales by 500 million euros to over 44 billion euros.

Continental is already half-way there, as sales have risen by 10% to 22 billion euros in the first half of the year.

As expected, the group's H1 operating result was down slightly year-on-year, at 2.3 billion euros, due to a sharp increase in raw materials prices - particularly rubber.

"Our business with innovative technologies for assisted and automated as well as with connected and efficient driving once again grew faster than the global market for passenger cars and light commercial vehicles," still said Elmar Degenhart, chairman of the executive board.

On Frankfurt's DAX index, Continental shares are currently up 0.5% at 190.4 euros after these results.


Copyright (c) 2017 CercleFinance.com. All rights reserved.