April 23, 2019 / 5:14 AM / 3 months ago

Car parts group Faurecia confirms FY target as Q1 sales climb

PARIS, April 23 (Reuters) - French car parts group Faurecia on Tuesday reported a slight rise in first-quarter sales, and added that it was on track to meet its full-year financial target.

Faurecia, which is 46-percent owned by PSA, said its sales edged up 0.2 percent from a year earlier to 4.325 billion euros ($4.9 billion), with growth in Asia and South America offsetting a weaker performance in Europe and North America.

Faurecia confirmed its full-year target, which include reporting higher operating profit, having an operating margin of at least 7 percent, and having a net cash flow of at least 500 million euros.

$1 = 0.8890 euros Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips

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