Report

Lens and optical instruments boost Essilor revenue

The Lenses and Optical Instruments segment was up 3.6% like-for-like and comprised the bulk of sales, posting euro 3.2 billion (AU$5.41 b) for the period. Other highlights included an 8.1% like-for-like revenue increase in the Sunglasses and Readers division, as well as good overall results for fast-growing markets in the US and e-commerce businesses.However, despite the strong overall results, revenue was flat for the six-month period in the equipment division while Essilor also experienced a decline in Australian sales.In the North America Sunglasses and Readers division, there was a boost in sales with first-half like-for-like up by 8.1%. According to Essilor, the strong performance was due to high sell-through from FGX International and Costa, which delivered the best performance of the sunwear brands in the US market and continued its expansion in optical stores in the prescription frames and lenses category, with a newly established presence in California.“Essilor delivered solid results in all regions and divisions in the first half of 2018, while at the same time preparing for its proposed combination with Luxottica,” chairman and CEO Mr Hubert Sagnieres said.Essilor also highlighted its majority stake acquisition of California-based optometry equipment distributor Cal Coast Ophthalmic Instruments as part of its expansion of coverage in the instruments division and enhanced marketing of products. Cal Coast is expected to generate an additional US$12 million (AU$19.28 m) in annual revenue.