EssilorLuxottica 1st Half Net Profit, Revenue Rise
31 July 2019 - 3:44PM
Dow Jones News
By Cristina Roca
EssilorLuxottica SA (EL.FR) said Wednesday that first-half
earnings and revenue rose, and it backed its 2019 view.
The Franco-Italian company reported net profit of 1.1 billion
euros ($1.23 billion), up 6.8% compared with a pro forma figure of
EUR1.03 billion the year previous.
The company--which was created in October 2018 from the
combination of optical-lens manufacturer Essilor and luxury eyewear
maker Luxottica--said revenue rose 7.3% to EUR8.78 billion. At
constant currencies, revenue rose 3.9%, EssilorLuxottica said.
The company's lenses & optical instruments category
increased revenue by 4.9% at constant exchange rates, whereas
sunglasses & readers were up 8.4% at constant exchange
rates.
EssilorLuxottica backed its full-year view. For 2019, the
company has guided for sales growth of 3.5%-5% at constant exchange
rates and sees net profit for the period, adjusted for the expenses
from the merger and other special items, growing at 1-1.5 times the
pace of sales growth.
Separately Wednesday, the company said it has agreed to buy a
76.7% stake in Grandvision NV (GVNV.AE).
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
July 31, 2019 01:29 ET (05:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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