Continental Second-Quarter Net Profit Rises 50%

Auto parts supplier and tire maker Continental said Wednesday that its second-quarter net profit rose by 50% amid demand by car makers for its automotive parts and tires.

The Hanover-based company went on to predict that its revenues would rise by at least 5% by the end of the year.

The company earned 303 million euros ($415.32 million) in the April-June quarter compared with 202 million euros a year ago, ahead of the 291 million euros ($399 million) that analysts polled by Dow Jones Newswires had predicted.