Peugeot maker PSA Group reported a 1.1 percent decline in first-quarter revenue,...
PARIS - Peugeot maker PSA Group reported a 1.1 percent decline in first-quarter revenue, as a sales decline outside Europe and currency challenges outweighed pricing improvements.
PSA “remains fully focused” on its medium-term performance plan while pursuing the integration of the Opel-Vauxhall business acquired from General Motors in 2017, Chief Financial Officer Philippe de Rovira said. Exchange-rate setbacks also weighed on revenue to overcome a 3.6 percent boost from improved pricing and mix, which reflects a sales shift to plusher models.
The carmaker’s shares nonetheless fell in early trading, and were 1.9 percent lower at 23.82 euros as of 0725 GMT, paring their 30 percent gain this year.
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