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EssilorLuxottica Posts H1 Loss, Revenues Down Amid Covid-19

French ophthalmic company EssilorLuxottica SA (ESLOF.PK,ESLOY.PK) Friday reported a net loss for the half year, with 29 percent decline in revenues during the period, impacted by the outbreak of Covid-19 pandemic.

The Group recorded a net loss of 400 million euros for the first half, as compared to a net profit 719 million euros in the first half of last year.

Net loss attributable to owners of the parent totaled 412 million euros versus net profit of 671 million euros last year. Loss per share was 0.94 euros versus profit per share of 1.53 euros last year.

On an adjusted basis, attributable profit was 7 million euros, compared to 1.047 billion euros last year. The results for the last year are restated.

EssilorLuxottica reported revenue of 6.230 billion euros for the first half, down 29 percent year-on-year at both current and constant exchange rates. These declines were attributed to the direct impact of Covid-19 related lockdowns across markets.

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