German auto parts supplier Continental AG on Friday raised its forecast for operating profit in 2014, following a dynamic performance during the first three months.

The Hanover-based company said that instead of the original forecast of a growth of 10.0 percent, it expected its earnings before interest and tax (EBIT) to "comfortably" achieve a 10.5 percent growth this year over last year.

In the first quarter of 2014, Continental reported an operating profit of approximately 953 million euros (about 1318.9 million U.S. dollars), nearly 20 percent higher than the same period last year.

"We are confident that we can maintain the current momentum, as the positive trend of the first three months appears to be continuing in the second quarter," said Elmar Degenhart, CEO of the Continental. Endi

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