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3 years ago
Indesit Q1 results hit by drop in Russian sales
May 7, 2014 / 9:10 AM / 3 years ago

Indesit Q1 results hit by drop in Russian sales

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MILAN, May 7 (Reuters) - Italy's white goods maker Indesit suffered a drop in turnover of nearly 7 percent to 560 million euros ($780 mln), and posted a net loss in the first quarter, hit by a marked slump in Russia.

A depreciating rouble compounded the weakness.

In Eastern Europe, where the group makes nearly half of its sales and where currency such as the Turkish lira and the Ukrainian hryvnia also suffered, Indesit revenues dropped by 17.2 percent. ($1 = 0.7177 Euros) (Reporting by Lisa Jucca, editing by Valentina Za)

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