Sales fall 5 pct at Spain's DIA in Q1 after currency swings
MADRID May 12 (Reuters) - Spanish discount grocer DIA said on Thursday net sales slipped 5 percent from a year earlier to 2 billion euros ($2.28 billion), in line with forecasts, after unfavourable currency swings in some of its markets.
Adjusted earnings before interest, tax, depreciation and amortization (Ebitda) dropped 1.2 percent to 117 million euros, also broadly in line with expectations in a Reuters poll of analysts.
Weaker currencies in Brazil and Argentina have hurt earnings when converted into euros. Sales would have risen 9 percent year-on-year excluding the foreign exchange effect, DIA said. ($1 = 0.8755 euros) (Reporting by Sarah White, Editing by Angus Berwick)
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