UK markets close in 7 hours 11 minutes
  • FTSE 100

    7,320.77
    +23.62 (+0.32%)
     
  • FTSE 250

    21,606.99
    +154.49 (+0.72%)
     
  • AIM

    1,087.75
    +9.72 (+0.90%)
     
  • GBP/EUR

    1.1934
    +0.0027 (+0.23%)
     
  • GBP/USD

    1.3481
    -0.0009 (-0.07%)
     
  • BTC-GBP

    26,873.66
    +862.93 (+3.32%)
     
  • CMC Crypto 200

    823.57
    +12.96 (+1.60%)
     
  • S&P 500

    4,410.13
    +12.19 (+0.28%)
     
  • DOW

    34,364.50
    +99.13 (+0.29%)
     
  • CRUDE OIL

    83.57
    +0.26 (+0.31%)
     
  • GOLD FUTURES

    1,837.80
    -3.90 (-0.21%)
     
  • NIKKEI 225

    27,131.34
    -457.03 (-1.66%)
     
  • HANG SENG

    24,243.61
    -412.85 (-1.67%)
     
  • DAX

    15,077.47
    +66.34 (+0.44%)
     
  • CAC 40

    6,830.13
    +42.34 (+0.62%)
     

Lagardere reports 29.8% drop in Q1 sales as pandemic hits travel retail

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: The logo of French media group Lagardere is seen during the groups annual general meeting in Paris
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • MMB.PA

PARIS (Reuters) - French media and publishing firm Lagardere reported on Tuesday a 29.8% drop in first-quarter revenue on a like-for-like basis as coronavirus-related restrictions on travel in Europe weighed.

The company said sales in is travel retail business were down by 56.1% in the first quarter.

"Pending the beneficial effects of the vaccination campaigns, first-quarter 2021 revenue closely mirrored trends in air passenger traffic", Lagardere said in a statement.

Lagardere confirmed on Monday it was reviewing a project to transform itself into a joint-stock company, unravelling an arcane structure that had caused strife with shareholders.

(Reporting by Matthieu Protard, editing by Louise Heavens)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting