Italy's Piaggio posts 27% rise in preliminary full-year revenues

(Reuters) - Italian scooter maker Piaggio reported on Friday a 27% rise in its 2021 preliminary revenues, as the group gradually rebounds from the negative effects of the COVID-19 pandemic.

"We are witnessing a good increase in sales in all markets and this suggests a positive trend in revenues, despite the persisting challenges arising from continuous lockdowns in India," Chief Executive Roberto Colaninno said in a statement.

He added that there were still critical issues linked to the logistics of raw materials and to inflation rates.

The producer of the iconic Vespa scooter posted 1.67 billion euros ($1.92 billion) in preliminary revenues and said its net debt had improved by 43 million euros to about 380 million euros at the end of December 2021.

($1 = 0.8714 euros)

(Reporting by Federica Urso, editing by Giulia Segreti)