Reported 8 months ago
German auto supplier Continental has lowered its annual sales forecast for the second time this year due to sluggish demand in Europe and North America, yet reported a strong third quarter profit that exceeded expectations. The company's shares rose 5.6% following a core profit of 873 million euros, attributed to effective cost management in its automotive division. Despite the sales guidance cut, Continental remains confident in its spin-off plans and has reaffirmed its expected earnings for the automotive sector.
Source: YAHOO