Eyecare firm Essilor International (ESLOY.PK, ESLOF.PK) Friday reported over 16 percent increase in profit for the first half of the year, as revenues climbed nearly 23 percent. The company backed its full-year goals.
Profit attributable to equity holders of the company advanced to 300.6 million euros from 258.2 million euros in the prior year. Earnings per share advanced to 1.45 euros from 1.25 euros.
Revenue climbed 22.8 percent to 2.531 billion euros from 2.060 billion euros. Like-for-like growth was 6.6 percent, led by both developed and fast-growing countries.
According to the firm, the ophthalmic optics market continued to grow in the first half, backed by demand for vision correction solutions and accelerated demand in fast-growing markets.
Hubert Sagnières, Chairman and CEO, said, ''In an overall second-half economic environment that is less buoyant, the determination of Essilor's teams to deploy our strategic plan worldwide and the launch of the new generation of Varilux S series progressive lenses bolster our confidence that we will meet our full-year objectives."
The firm confirmed its full-year objectives of revenue growth of 12 percent to 15 percent, excluding currency and sustained high contribution margin excluding strategic acquisitions.
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