April 20, 2018 / 5:25 AM / 3 months ago

Auto parts group Faurecia posts higher Q1 sales

PARIS, April 20 (Reuters) - French auto parts maker Faurecia posted higher first-quarter sales on Friday, and sees robust, double-digit growth in their second quarter that enables the group to have a positive outlook for 2018.

Faurecia, of which auto group PSA owns 46 percent, reported sales of 4.32 billion euros ($5.3 billion), up from 4.2 billion euros a year earlier, with turnover up in all its markets around the world.

“Our sales in the first quarter of the year posted strong growth at constant currencies and significantly outperformed the automotive production in all regions. The strong year-on-year negative currency impact should gradually reduce in the coming quarters,” Chief Executive Patrick Koller said in a statement.

“Our expectation of robust double-digit growth in the second quarter further strengthens our confidence for 2018,” he added.

$1 = 0.8105 euros Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips

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