Schneider Q1 sales fall, confirms 2013 targets
PARIS, April 23
PARIS, April 23 (Reuters) - Schneider Electric said on Tuesday that first-quarter sales declined 3.7 percent as a tough economy in Europe and mixed markets in North America offset growth in Asia.
The group, whose products help utilities distribute electricity and which makes automation systems for the car and water treatment industries, confirmed its full-year targets, saying that market trends remain in line with its forecasts at the start of 2013.
Sales in the period declined to 5.2 billion euros ($6.8 billion). They were down 2.7 percent on a like-for-like basis mainly due to fewer working days, Schneider said.
($1 = 0.7674 euros) (Reporting by Elena Berton; Editing by Christian Plumb)
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