Parrot Drones: Parrot: share price up, quarterly sales reassuring

Parrot shares posted one of the strongest gains on the Paris market on Friday, after reporting 39% sales growth in Q3. The group reported revenues of 21 million euros for the three months to the end of September, compared with 15.1 million euros a year earlier. In its press release, the manufacturer of professional micro-drones emphasized that, at this level of activity, the group's current operations were "close to break-even". Over the nine months of its financial year, consolidated sales were up 11% at 51.6 million euros. As for its outlook, Parrot explains that it intends to confirm its growth momentum and continue to reduce its cash consumption. On the Paris Bourse, the share price was up 13% by mid-day Friday in the wake of these comments. Copyright (c) 2024 CercleFinance.com. All rights reserved.