Thomson SA said that third-quarter revenue fell 3.4%, dragged down by the group's exposure to the weak U.S. dollar. Group revenue decreased to euro1.375 billion (approx. US$1.95 billion).
About 60% of Thomson's activities are in U.S. dollars or currencies tied to the dollar, Chief Financial Officer Julian Waldron said. He said constant currency growth is a better indicator of the company's performance, adding "that's what we're judged on."
Due to charges relating to the plans to exit its audio-video and accessories activities, Thomson said it expected its 2007 net result to be lower than the euro55 million ($78 million) profit posted in 2006. The group previously forecast "strong growth" in net profit in 2007. (AP)