July 28, 2017 / 2:16 PM / 2 years ago

Autogrill confirms 2016-2019 guidance despite exchange rate swings

MILAN, July 28 (Reuters) - Italian motorway and airport caterer Autogrill confirmed an ambitious three-year guidance published in March despite the recent weakening of the dollar versus the euro.

* CFO Alberto de Vecchi told analysts at a conference call he sees no reason to change group’s 2016-2019 guidance

* CFO said it is impossible to make forecasts on exchange rates, acknowledges that the dollar rate this year could be less favorable than expected

* He added summer season in North America started soft, now is improving, adds Europe enjoyed a good start

* CEO Gianmario Tondato said re-organisation of Italian to be done by year-end, would not change perimeter of group

* CEO said group could seize opportunities for acquisitions in convenience retail sector but “not at any cost”

* the group reported on Friday a 4.3 percent rise in its first-half revenues at current exchange rates thanks to a good sales at the group’s airport restaurants and bars (Reporting by Francesca Landini, editing by Giulia Segreti)

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