Constantin reports Q1 profit decline

Company still expects to hit year-end target

COLOGNE, Germany -- Leading German indie Constantin Film saw revenue and profits dip in the first quarter, with sales slumping 17.7% to €55.3 million ($77.5 million) and net profit a slim €600,000 ($840,000) against €5 million a year earlier.

The Munich-based group said the weak numbers were largely due to the general economic crisis but that it still expected to hit its year-end target of net profits between €10 million-€12 million ($14 million - $17 million).