6 days ago
- Automotive
- Wall Street Journal
Germany's Continental Posts Higher Profit as Auto Unit Gears Up for Spinoff
Germany's Continental AG CON -0.41%decrease; red down pointing triangle reported a higher net profit for the second quarter despite lower sales, and said cost controls helped its automotive business ahead of a planned listing next month.
The tire maker and car-parts supplier said Tuesday that quarterly net profit for the group jumped to 506 million euros ($585.6 million) from 305 million euros in the year-earlier period, when the company's results were hit by exceptional restructuring charges.
