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Pierre und Vacances Report Sales Increase 27-01-10
French holiday apartment rental company Pierre & Vacances has reported a 10.7% increase in first quarter sales to €329.3 million. The increase was largely driven by property development turnover, which rose by 53 per cent to €122 million, prompting an increase in the company’s share value.
The accommodation provider didn’t fare so well in its other division. Tourism sales were down by 4.8 per cent to €207.3 million, while accommodation turnover fell by 3.5 per cent to €106.7 million. However, despite these minor decreases, the company enjoyed a successful first quarter.
