Essilor revenues up, growth across most divisions

In its official financial report, it highlighted the company’s revenue increase of 10% and like-for-like growth of 2.4% due to improved momentum in most markets, including North America. The sole exception was Brazil, where the company has reportedly been affected by the major economic crisis.{{quote-A:R-W:450-I:2-Q:“The deployment of growth initiatives across our businesses in corrective lenses, sunwear and e-commerce, along with the launch of new products should lead to renewed momentum in the coming quarters.”-WHO:Mr Hubert Sagnières, Chairman and CEO of Essilor International}}“The performance from the beginning of the year has been in line with our annual plan, supported by improved growth in the United States and China and the contribution from acquisitions, despite an anticipated decline in the Sunglasses & Readers division,” Essilor International chairman and CEO Mr Hubert Sagnières said in a statent.“The deployment of growth initiatives across our businesses in corrective lenses, sunwear and e-commerce, along with the launch of new products should lead to renewed momentum in the coming quarters.”Lenses and optical instruments were one of the largest growth areas, with the company attributing the rebound to strong gains in the US. The equipment division also reported a robust performance, rising by 7.3% across all product lines.Part of the revenue growth was attributed to six completed acquisitions with combined revenues of euro 40 million (AU$58.8 m) throughout the year.The company is expecting even higher growth and profitability during the next quarter. Meanwhile, Essilor shareholders have voted to approve the merger with Luxottica in another step toward the two companies’ formal merger.