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PSA quarterly revenue declines as sales collapse in Iran and China

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By Reuters
PSA quarterly revenue declines as sales collapse in Iran and China
FILE PHOTO: The Peugeot logo is pictured on the new Peugeot 508 before a news conference of PSA Group to announce the company's 2017 annual results at their headquarters in Rueil-Malmaison, near Paris, France, March 1, 2018. REUTERS/Benoit Tessier   -   Copyright  Benoit Tessier(Reuters)

PARIS (Reuters) – French carmaker PSA Group said first-quarter revenue fell 1.1 percent, as sales continued to decline in China and were also impacted by the Peugeot maker’s withdrawal from Iran.

Revenue declined to 17.98 billion euros (£15.5 billion) in January-March from 18.2 billion a year earlier, the Paris-based carmaker said on Thursday.

(Reporting by Laurence Frost; Editing by Sudip Kar-Gupta)