OLDENBURG (dpa-AFX) - Photo services provider Cewe has started the new year with growth. Sales in the first quarter increased by 13.5 percent to 157.7 million euros, as the company announced in Oldenburg on Thursday. Cewe sold almost ten percent more photo books than in the previous year. Earnings before interest and taxes increased from 2.1 million euros to 5.1 million euros, largely driven by the photo finishing division. Earnings after tax rose from just under 1.2 million to 3.3 million euros.

"The strongest first quarter in the company's history in terms of sales is a

promising start to the year," commented Yvonne Rostock, the new CEO of the Cewe Foundation. The company is on track to achieve its annual targets, she added: Management forecasts group sales in a range of 720 to 780 million euros and an Ebit of 70 to 82 million euros for 2023./nas/ngu