Automotive supplier Continental AG (CTTAY.PK) on Wednesday reported increased profit for the first nine months of the year and backed its full year forecast despite increasing uncertainty in the sales markets.
Net income attributable to the shareholders of the parent jumped 62.5 percent to nearly 1.5 billion euros. Earnings per share were 7.26 euros, compared to 4.47 euros per share in the previous year.
Sales climbed 9.1 percent to 24.6 billion euros. EBIT rose 22.8 percent to 2.4 billion euros and margin advanced to 9.6 percent from 8.5 percent.
Continental Executive Board Chairman Dr. Elmar Degenhart said, "Based on the first nine months, we still expect consolidated sales to increase by more than 7% to more than €32.5 billion for fiscal 2012. We also target to achieve an EBIT margin above last year's very strong level, as previously announced."
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