Essilor 3Q Revenue Rises on Sunglasses Trends
22 Ottobre 2018 - 7:14PM
Dow Jones News
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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