(Reuters) – Italian Vespa maker Piaggio posted a 22.5% fall in its first-quarter net profit on Thursday, as slower sales in Asian markets weighed.
Its net profit for the three months through end-March was 18.7 million euros ($20.05 million).
“After a number of slower months, since March the Far East has been showing signs of steadying and we expect to see a moderate improvement in sales during the year,” CEO Michele Colaninno said in a statement.
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Piaggio Q1 profit slips as Asia weighs
