EssilorLuxottica 3Q Revenue Rises to EUR4.31 Billion

   By Ben Otto 
 

EssilorLuxottica SA (EL.FR) said Wednesday that third-quarter revenue rose more than 8% from a year earlier on growth in lenses and optical instrument sales as well as gains in retail and ecommerce.

The Paris-listed eyecare giant said revenue for the quarter was 4.31 billion euros ($4.79 billion), up from a pro forma figure of EUR3.98 billion a year ago.

At constant currencies, revenue would have risen 5.2%, EssilorLuxottica said.

The company, which was created in October 2018 from the combination of optical-lens manufacturer Essilor and luxury eyewear maker Luxottica, said its lenses & optical instruments category increased revenue by 7.0% at constant exchange rates from the same period a year earlier, with gains coming from new products and healthy online sales. It said revenue from sunglasses and readers was up 8.9% at constant exchange rates.

EssilorLuxottica said momentum had improved in the United States, Europe and mainland China, and it 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.

Write to Ben Otto at [e-mail]

(END) Dow Jones Newswires

October 30, 2019 03:05 ET (07:05 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.