Frankfurt - Shares in luxury sports carmaker Porsche slipped Friday after the German-based group said sales in the nine months to the end of April dropped by 15 per cent.

The fall in the company's revenue to 4.64 billion euros (6.47 billion dollars) from 5.46 billion euros in the same period 12 months ago came in the wake of the global recession tightening its grip on the world car business.

Porsche's shares dipped 0.6 per cent to 44.40 euros in early trading Friday in Frankfurt.

The release of the results also came as Porsche considers what steps it needs to take to pay back more than 9 billion euros in debt. (dpa)