1.  But he added that stronger currencies elsewhere have helped offset any negative currency impact in Europe.

2.  The company blamed the stagnant result on negative currency fluctuations.

3.  He noted that negative currency translations will have more of a major impact than originally anticipated due to the strength of the dollar against the euro and pound.

4.  The company also said negative currency translations will hurt the bottom line.

5.  This, he said, meant that operating income would be further eroded by negative currency movements in the current year.

6.  Excluding negative currency effects, sales increased four percent, the group said.