Continental posts stable profits in 2013

Continental, the German maker of tyres and car parts, said Thursday it booked stable profits last year in the face of weak European demand and the strong euro. "Continental demonstrated strength ... despite weak European automotive markets and negative exchange rate effects of a considerable magnitude," the company said in a statement. Net profit reached 1.923 billion euros ($2.6 billion) in 2013, more or less steady from 1.905 billion euros a year earlier. Sales grew by 1.8 percent to 33.331 billion euros. "In 2013 we achieved very good results and continued to pursue our goals reliably, rigorously, and efficiently. Looking back, we achieved more than anticipated overall," said chief executive Elmar Degenhart, according to AFP.