Agfa Q1 profits fall as printing customers feel economic pinch

BRUSSELS Tue May 14, 2013 2:06am EDT

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BRUSSELS May 14 (Reuters) - Belgian imaging group Agfa-Gevaert reported lower profits in the first quarter of 2013, as businesses spent less on printed advertising and customers postponed investments.

Core profit in the group's Graphics unit, which makes plates for industrial printers, fell 21.8 percent in the first quarter.

This was partially offset by a strong result at Agfa's Specialty Products unit, which makes high-end products for printing and photography applications, where the group managed to cut costs.

Overall, recurring core profit fell 4.7 percent in the first quarter to 41 million euros. (Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)