Peugeot sales rise as Europe rebound overcomes currency

PARIS (Reuters) - PSA Peugeot Citroen said revenue rose 1.9 percent in the first quarter as a European demand recovery helped to overcome weaker emerging-market currencies. Revenue rose to 13.29 billion euros (10.92 billion pounds) in January-March, Paris-based Peugeot said in a statement on Friday, from 13.04 billion in the year-earlier period. The troubled carmaker, which is in the process of selling significant minority stakes to the French state and China's Dongfeng Motor Group <0489.HK> in a 3 billion euro share issue, said the stronger numbers were "supported by the recovery of the European market and by strong growth in China". Peugeot's global deliveries advanced 7.6 percent to 725,917 cars and light trucks, led by gains of 16 percent in Europe and more than 18 percent in China, while Russian and Latin America sales fell. The stronger sales in Europe and China also helped to overcome the effects of a weaker Russian rouble, Argentinian peso and Brazilian real against the euro, as currency headwinds reduced revenue by 4.5 percent, the company said. (Reporting by Laurence Frost)