Leading German brake manufacturer Knorr-Bremse on Monday raised its forecast for the financial year after increasing profits in the second quarter. According to preliminary figures, operating earnings before interest and taxes (EBIT) rose by 13% to €252 million ($273 million). With incoming orders totalling €2.1 billion and sales of €2 billion, the operating profit margin improved from 11.1% to 12.5% year-on-year. In Munich on Monday, chief executive Marc Llistosella said the figures represent an “excellent interim result at the middle of the year.” Frank Weber, the chief financial officer, sa…