Germany's Continental still sees higher 2003 profit


FRANKFURT, May 23 (Reuters) - German tyre and car parts maker Continental AG repeated on Friday it expected sales and earnings to rise this year amid continued strong demand for its high-margin electronic auto systems.

The world's fourth-largest tyre maker said earlier this month its Automotive Systems business -- which specialises in car electronics, steering and braking systems -- had driven its operating profit up by a quarter in the first three months.

Continental, which has been benefiting from an overhaul of its tyre business and the expansion of its electronic systems unit, posted an operating profit of 694 million euros ($818 million) in 2002 on sales of 11.4 billion euros.



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