Continental promises stronger second half as cost-cutting measures sink in

Continental (CONG.DE) delivered better-than-expected results this week and said the second half of the year would be even stronger as cost-cutting and restructuring measures underway at the German car parts supplier began to pay off.

The company lowered its sales outlook to 40 billion to 42 billion euros ($45.87 billion) and said it expected to land at the lower end of that corridor but anticipated stronger margins in the quarters ahead because of planned costs cuts of around 100 million euros.