Essilor 2008 Net Profit EUR382.4 Million; To Continue Targeted Buys
05 Marzo 2009 - 7:42AM
Dow Jones News
French ophthalmic lens maker Essilor International SA (EI.FR)
Thursday said its net profit for 2008 rose 4.3%, and said it
intends to continue to make targeted acquisitions.
Essilor said in a statement that the "global recession has made
forecasting growth for (2009) very uncertain." Essilor also noted
that the ophthalmic optics market experienced slower growth in
2008, "especially in the fourth quarter."
"However the economic crisis does not call into question
Essilor's medium- and long-term objectives," Essilor said, adding
the company will continue to pursue "its development and the
deployment of its strategic focus on innovation and international
expansion."
Essilor said it will continue to "make targeted acquisitions,
especially in prescription laboratories, which could account for
around 6% of growth in 2009, including the full-year contribution
of 2008 acquisitions."
For the year ended Dec. 31, net profit rose to EUR382.4 million
from EUR366.7 million, while operating profit rose 2% to EUR514.5
million from EUR504.6 million.
Revenue for the year rose 5.7% to EUR3.07 billion from EUR2.91
billion in 2007.
Essilor also said it will pay a dividend of EUR0.66 a share, up
6.5% from the previous year.
Company Web site: www.essilor.com
-By Alice Dore, Dow Jones Newswires; +33 1 4017 1740;
alice.dore@dowjones.com