Michelin revenue falls as forex slide offsets sales gain
PARIS Oct 28 (Reuters) - French tyremaker Michelin said revenue fell 5.8 percent in the third quarter as weaker emerging-market currencies more than offset growth in sales volumes.
Revenue fell to 5.12 billion euros ($7.06 billion), Michelin said in a statement on Monday.
The company, which had previously pledged to achieve "stable" operating income for 2013, said it was now targeting a 150 million euro increase, but before currency effects. ($1 = 0.7254 euros) (Reporting by Laurence Frost; Editing by James Regan)