ESLOY Essilor Luxottica (PK)

   By Cristina Roca 
 

EssilorLuxottica SA (EL.FR) said Monday that Essilor International SA's third-quarter revenue grew thanks to the strong performance of its sunglasses and readers division and its Asia market.

The French optical-lens manufacturer had revenue of 1.81 billion euros ($2.08 billion) in the third quarter, up 4.4% compared with the previous year.

On a like-for-like basis, Essilor's revenue grew 5% on the year, the company said. Essilor said its sunglasses and readers division posted double-digit revenue growth in the third quarter on the back of strong business trends. The company also said its revenue growth benefited from its good performance in Asia, particularly China.

The company is resuming its strategy of making targeted acquisitions, with more to come in the next year, Essilor's Deputy Chief Executive Officer Laurent Vacherot said in a call.

Essilor earlier this month said it had completed its merger with Italian luxury eyewear company Luxottica Group SpA, forming EssilorLuxottica. As their revenue and scopes of consolidation were independent of one another throughout the third quarter of 2018, Essilor and Luxottica are reporting revenue separately.

The company backed its full-year guidance for the Essilor business, which is now part of EssilorLuxottica.

Write to Cristina Roca at cristina.roca@dowjones.com

(END) Dow Jones Newswires

October 22, 2018 12:59 ET (16:59 GMT)

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