May 24, 2018 / 12:45 PM / a month ago

Autogrill revenue drop 2.7 pct in Jan-April hurt by weak dollar

MILAN, May 24 (Reuters) - Revenue at Italian travel retailer Autogrill fell 2.7 percent in the first four months of 2018 as a weakening dollar curbed the value of sales at U.S. airports.

Revenue totalled 1.3 billion euros ($1.5 billion). Stripping out currency effects and the impact of acquisitions and disposals, sales grew 5.3 percent from a year earlier.

The company, which runs food outlets at airports and on motorways, said last year it expected sales to rise on average by 5 to 7 percent a year in the 2016-2019 period net of currency moves and asset sales or acquisitions.

Airports revenue fell by 4.8 percent to 779.9 million euros, but were up 6.6 percent at constant exchange rates.

Motorways sales fell 2.9 percent to 438.7 millions euros; other channels rose 16 percent to 110.9 millions boosted by the acquisition of restaurant chain Le CroBag.

Shares erased gains after the results to stand down 0.6 percent at 1234 GMT.

$1 = 0.8534 euros Reporting by Stefano Rebaudo; editing by Jason Neely

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