MILAN, July 26 Italian motorcycle and scooter
maker Piaggio's consolidated sales extended a four-year
slide in the first half, it said on Friday, depressing net
profit as its core market for scooters and motorbikes continued
Consolidated sales for the first half were 671.5 million
euros ($888.8 million), down from 764.0 million for the same
period a year ago.
Piaggio's net sales have fallen for the past four out of
five consecutive years to their lowest since 2004.
Net profit was 24.9 million euros, down from last year's
33.7 million euros. EBITDA was 100.6 million euros, down from
114.4 million euros last year.
Piaggio said it will "continue in the direction of" its
2011-2014 business plan, which targets sales of 1.03 million
vehicles in 2014 for consolidated sales of 2 billion euros.
It said it will bring forward the presentation of its new
2014-2018 business plan to the end of this year.
($1 = 0.7555 euros)
(Reporting by Jennifer Clark, editing by Danilo Masoni)