Piaggio 9-mth net drops as strong euro weigh on revs

MILAN Mon Nov 11, 2013 8:08am EST

MILAN Nov 11 (Reuters) - Italian motorcycle and scooter maker Piaggio said on Monday its profit fell to 27.8 million euros in the first nine months of the year, from 44.4 million euros a year ago, as a stronger euro hurt revenues.

The maker of the iconic Vespa scooter posted revenues of 955 million euros in the period, compared with 1.1 billion euros a year ago, while core margins were broadly unchanged at 30.4 percent.

Currency effects subtracted 34.3 million euros to revenues, it said in a statement.

The company confirmed plans to boost productivity and expand in Asia while consolidating its position on mature Western markets.

Piaggio reiterated it would present a new 2014-2018 strategic plan in the coming months.($1 = 0.7491 euros) (Reporting by Danilo Masoni, editing by Valentina Za)

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