Avolta Q1 results meet estimates despite Middle East war
Avolta posted quarterly turnover of 2.90 billion francs, meeting estimates. Strong North American trading helped offset travel slowdowns in the Middle East.
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AVOLTA AG reported first-quarter core turnover of 2.90 billion Swiss francs ($3.72 billion), meeting analyst expectations despite Middle East geopolitical tensions. Revenue fell from 3.05 billion Swiss francs a year earlier as conflict impacted regional travel activity. Shares rose 3.3% as organic growth of 3% signaled resilience against a broader global travel slowdown.
The Switzerland based retailer maintained its medium-term targets of 5% to 7% organic growth. Core profit margins are projected to rise by 20 to 40 basis points annually through cost adjustments.
