Conti sales, earnings up in first quarter

Hanover, Germany – Continental AG’s first quarter pre-tax operating income rose 24 percent and all of the firm’s operating divisions reported improved earnings over the 2006 period.

Conti´s earnings before tax and interest grew to €436.8 million on 9.8-percent higher sales of €3965 million. Net income was up 21.9 percent to €270.5 million.

Conti Chairman Manfred Wennemer said he expects the company will achieve its sales and earnings goal for the year, although raw material prices continue to be an uncertainty.

Conti´s passenger/light truck tyre division improved…

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