Continental AG reports first half sales growth

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Continental AG's consolidated net sales for the first six months of 2002 totaled 5.6 million euros, a 2.9% increase over the same period last year.

The company's consolidated operating earnings rose 70% during the first half of 2002 to 347 million euros.

However, sales for Continental's Passenger Car Tires division fell 5.6% to 1.8 million euros.

"In North America, business with the automotive industry was gratifying, while total sales in the replacement market dropped slightly," say Continental officials.

The company's Commercial Vehicle Tires unit posted 638 million euros in sales, down six million euros from the first half of 2001.

Continental executives predict a "slight increase in sales with a significant improvement in operative earnings and consolidated net earnings" for the rest of the year.

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