Continental AG Posts $301.4M Profit For 1Q

BERLIN (AP) -- Auto parts and tire maker Continental AG says it returned to profitability in the first quarter, reversing previous losses amid higher sales and successful cost cutting.

The company based in Hannover said Tuesday that its net profit was euro227.7 million ($301.4 million) in the January-March period compared with a loss of euro267.3 million a year earlier. Revenues rose to nearly euro6 billion from euro4.3 billion as automakers placed more orders.

Continental shares were up .74 percent to euro42.89 in Frankfurt trading.

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