French opthalmic optics company Essilor SA (EI.FR) said Thursday
it is maintaining its objective for revenue to increase by more
than 7% in 2013 although revenue in the first quarter of the year
was stable. The company also reaffirmed that it expects to see a
sustained high level of profitability in 2013.
MAIN FACTS:
- First-quarter revenue rose 0.5% to 1.28 billion euros ($1.66
billion) on a reported basis and was flat on a like-for-like
basis.
-The company's core lenses and optical instruments activity
reported a 0.9% revenue increase in the first three months to
EUR1.15 billion.
- Hubert Sagnières, Chairman and Chief Executive Officer, said:
"The company's first-quarter performance is in line with our
expectations. Growth in the ophthalmic optics market remains driven
by demand for improved visual health and Essilor pursues its
value-creation strategy based on innovation, partnerships, and a
highly efficient production base."
-Mr. Sagnieres added: "In the coming quarters, we will leverage
our networks to accelerate and expand the distribution of
value-added products, such as Crizal UV and Varilux S series. New
partnerships will also strengthen our positions in fast-growing
countries. Despite the economic uncertainties weighing on consumer
spending in certain regions of the world, we remain confident that
we will achieve our objectives for 2013."
-Write to David Pearson at david.pearson@dowjones.com
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