German tyre and car parts maker Continental AG on Tuesday reported a stronger-than-expected operating profit for 2002 and said it would reach the same earnings level again this year, Reuters said.
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The news agency said the world’s fourth-largest tyre maker, emerging from a period of restructuring, reported that earnings before interest, tax and amortisation (EBITA) had risen to 694.3 million euros ($US735 million) from 33 million euros a year ago.
A Reuters poll of 16 analysts had forecast full year EBITA of 663 million euros.
