October 22, 2018 / 4:07 PM / 9 months ago

Essilor sticks to targets after in-line third-quarter sales

FILE PHOTO: Lens producers Essilor' s logo is seen in an optician shop in Paris, France, March 15, 2016. REUTERS/Philippe Wojazer/File Photo

(In this version of the story Refinitiv corrects analysts’ average revenue estimate in the third paragraph. Headline and first paragraph changed to reflect the correction)

PARIS (Reuters) - Essilor (ESLX.PA), the world’s largest maker of ophthalmic lenses, reported in-line revenue on Monday and kept its guidance unchanged for the year.

The French company, which merged earlier this month with Italian group Luxottica LUX.MI in a 48 billion euro ($55 billion) deal - said sales in the third quarter rose 4.4 percent to 1.81 billion euros.

Analysts polled by Refinitiv had been targeting average revenue of 1.79 billion euros.

The company, renamed EssilorLuxottica, said it was keeping its 2018 targets for Essilor, namely like-for-like revenue growth of around 4 percent.

Sales at Luxottica, which also kept its outlook for the year, were up 2.9 percent to 2.22 billion euros, with Ray-Ban.com being the main driver of its online business.

EssilorLuxottica will report fully integrated results from next year.

The tie-up between Luxottica, which controls brands such as Ray-Ban and Oakley, and Essilor, which sells lenses under the Varilux brand, is aimed at taking advantage of strong demand for prescription spectacles and sunglasses as populations age globally.

Reporting by Matthias Blamont; Editing by GV De Clercq

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below