UPDATE 1-Continental Q1 oper profit up, debt load rises


(Adds details) FRANKFURT, April 29 (Reuters) - Continental AG reported first quarter underlying operating profit rose 29 percent and reaffirmed its full-year targets a day after French rival Michelin lowered its 2008 earnings guidance. Earnings before interest and taxes (EBIT) and accounting effects from its recent acquisition of electronics and parts maker VDO grew to 569.5 million euros ($892 million), the world's fifth-largest auto parts maker said on Tuesday. The group's first ...

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