Piaggio 2013 net profit down as sales contract

Newswire

MILAN, March 20 (Reuters) - Italian motorcycle and scooter maker Piaggio on Thursday reported a 57 percent fall in full-year adjusted net profit, hit by a sharp drop in sales of two-wheel vehicles in most of its markets. The maker of the iconic Vespa scooter said 2013 adjusted net profit fell to 18.1 million euros ($25 million) from 42.1 million the previous year, and below a Thomson Reuters SmartEstimate of 20 million euros. The net profit was adjusted to ...

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