Essilor International Drives Up Sales by 7.3%

Essilor International posted a 7,3% increase in sales for the first six months of 2002 on a like-for-like basis.

The results, slightly higher than the 7% rise forecast in July, were driven by expansion in all geographic regions, the launch of Transitions Next Generation photochromic lenses, and a strong increase in sales of high-index, polycarbonate and progressive lenses. In particular, Essilor Instruments recorded a 13% sales growth.

Operating income was up 14,2% at E177m, fuelled by the increase in sales volumes, continued profitability in the US and Asia and a higher income from Transitions.

The company added that the euro's appreciation to most other currencies gave a negative 1,9% currency effect while consolidation, including the acquisition of Dollond & Aitchison's laboratories in June 2001, added 1,4% to sales.

Essilor concluded that its full-year objective was 5-6%sales growth.
(Source: AP-BISCOM)