The Italian furniture giant Natuzzi has posted a 14.1% slump in quarterly net sales, citing the increased strength of the euro plus rising price competition from low cost production centres.

For the quarter ended March 31 2003, net sales of all furniture came in at Eur183.5 million compared with Eur213.6 million the year before.  Leather-upholstered furniture sales fared even worse, falling 18.4% on the year previous to Eur133.0 million.

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