Assurances Generales de France credit assurance unit Euler Hermes said sales in the first quarter fell to Ђ466.7m from Ђ469.5m a year earlier. The group's factoring business also saw sales fall in the period, dampening the overall result.
The fall was 0.6 pct as reported and 0.2 pct on a constant currencies basis, the group said.
Euler Hermes said it had experienced a "difficult economic climate", but still posted "slight growth" in core credit assurance activities, to Ђ446.1m from Ђ444.9m last year.
Source: AFX Europe
