Continental Stock Feels The Burn On Rubber Price Inflation

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Continental AG  (CTTAY) shares fell Thursday after the first-half performance of its ContiTech division and stagnating margins in its automotive business left investors disappointed.

The world’s second largest maker of car parts reported sales of €22.2 billion ($25.4 billion) for the six months to June 30, up 10% on the same period one year ago, before raising its full-year revenue forecast by just more than 1% to €44 billion.

However, the bottom line and group margin contracted slightly after the company was hit by higher raw materials prices in its tires division, the largest unit of the group. 

Read the source article at Global Rubber Markets News