Essilor's 2011 Net Profit +9.4% As Revenue Rises 7.7%
01 Marzo 2012 - 7:25AM
Dow Jones News
French lenses maker Essilor International SA (EI.FR) Thursday
said net profit rose 9.4% to EUR506 million while overall revenue
rose 7.7% to EUR4.19 billion boosted by demand in Asia and in Latin
America and moderated growth in Europe.
MAIN FACTS:
- In 2011, revenue excluding the currency effect and strategic
acquisitions rose by 7.3%, at the high end of the company's target
range. Like-for-like revenue growth was 5%, led by an improvement
in the Lens business and a very good performance by the equipment
division.
- Deployment of the acquisitions strategy was also accelerated,
enabling Essilor in particular to extend its presence in
fast-growing markets and strengthen its positions in its three
operating divisions.
- Chief Executive Officer Hubert Sagnieres said: 2011 was
another year of sustained growth for the Company, not only in
rapidly expanding markets but also in developed economies, thus
ensuring market share gains.
- Based on these solid results and its confidence in the
company's outlook, the Board of Directors will recommend that
shareholders at the Annual Meeting on May 11, 2012 approve the
payment of a 2011 dividend of EUR0.85 per share.
- Essilor will pursue its strategy of deploying innovative
products that improve its portfolio of visual correction and
protection solutions and step up its efforts to stimulate demand.
While continuing to leverage its operational excellence and
targeted acquisition strategy.
- Approaching 2012 with confidence and determination, Essilor
forecasts a revenue growth, like-for-like plus bolt-on
acquisitions, of 6% to 9% and a sustained high operating
margin.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740;
inti.landauro@dowjones.com
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