Essilor International SA (ESLOY.PK,ESLOF.PK) posted first-quarter consolidated revenue of 1.27 billion euros, higher than 1.03 billion euros reported a year ago. On like-for-like basis, quarterly revenue grew 8.5%.
Hubert Sagnières, chairman and chief executive officer of Essilor, commented, "Following on late-2011 trends, Essilor reaped the benefits of growth initiatives undertaken in its different markets, including the roll-out of new products. This first-quarter performance, supported by vigorous global demand for better visual health, demonstrates the effectiveness of our strategic plans, their excellent execution and the efficiency of our R&D and marketing programs, which represent core strengths to drive long-term growth. Despite the macroeconomic uncertainties in certain regions of the world, this positive start to the year makes us confident that we will achieve our full-year 2012 target of revenue growth of 12% to 15%, excluding the currency effect."
Going ahead, Essilor confirms its full-year objectives of revenue growth of 12% to 15%, excluding the currency effect, and sustained high profitability excluding strategic acquisitions.
The company further stated that during the first quarter, it purchased 1.78 million of its own shares on the market, for a total of nearly 102 million euros. The purpose was to offset the dilution resulting from the issuance of shares under performance share and stock option plans reserved for employees and senior executives, Essilor added.
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by RTT Staff Writer
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