Car parts supplier Continental upped its forecast for 2016 on Wednesday after strong performance in its tires business.
CEO Elmar Degenhart said the group would target an adjusted operating profit of “over 11%”, where previously the target had been set at “around 11%”.
Continental’s net profit in the second quarter grew to 905 million euros ($1.01 billion), up 14% on April-June 2015 and outstripping the 825 million euros ($921.36 million) predicted by analysts surveyed by Factset.
