Car-parts giant Continental raises 2015 forecast on lower raw material costs

Frankfurt

CONTINENTAL AG, Europe's second-biggest maker of car parts, raised its 2015 profitability goal as lower supply costs bolstered second-quarter earnings. The stock jumped the most in 91/2 months.

Earnings before interest and taxes, and adjusted for one-time gains or costs, will amount to 11 per cent of revenue instead of an earlier prediction of more than 10.5 per cent, Hanover, Germany-based Continental said on Tuesday in a statement.