25/07/2013 17:37:00

Luxottica 2Q Net Profit Rises As Sales Hit Record High

Related content

By Manuela Mesco

MILAN--Eyewear giant Luxottica Group SpA (LUX.MI) said Thursday its second-quarter net profit rose nearly 10% compared with the same period in 2012, thanks to higher sales around the world.

Second-quarter net profit rose to 212 million euros ($280.5 million) from EUR194 million in 2012. Sales surpassed EUR2 billion in the quarter for the first time in the company's history, reaching EUR2.02 billion with contributions even from economically troubled southern Europe.

The results were roughly in line with analysts' expectations.

Sales in Mediterranean countries were up 11% at a constant exchange rate compared with the previous year, while continental Europe grew almost 15%, the company said.

Luxottica Chief Executive Andrea Guerra added that Brazil, China, India and South Asia posted the best sales in the second quarter, "confirming a constant and firm development".

A further boost to Luxottica's earnings came from its new license to make sunglasses for Giorgio Armani, which took effect at the start of the year. Mr. Guerra said previously that revenue from the Armani license could rise to about EUR200 million in the coming years.

Luxottica's share price ended 0.8% higher in Milan, at EUR40.05.

Write to Manuela Mesco at manuela.mesco@dowjones.com

(MORE TO FOLLOW) Dow Jones Newswires

July 25, 2013 12:37 ET (16:37 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

Regulatory news

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

U.S. Hot Stocks: Hot Stocks to Watch

03/02/2014 14:07:00
Among the companies with shares expected to actively trade in Monday's session is Herbalife Ltd. (HLF). Herbalife Ltd. (HLF) raised its fourth-quarter outl..

Pfizer Study Meets Primary Endpoints

03/02/2014 13:05:00
Pfizer Inc. (PFE) said Monday that a Phase 2 trial of its advanced breast cancer treatment met its primary endpoint. Pfizer said a study comparing the effec..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
EAM Solar ASA : Minutes from EGM 19 December 2014
2
SHARE BUY-BACK WEEK 51 2014
3
Oxford Immunotec to Present at the 33rd Annual J.P. Morgan Healthcare Conference
4
Delta Lloyd requests court ruling on DNB measures
5
ALSTOM SA : Agreement between Alstom and the US Department of Justice

Related stock quotes

Luxottica Group S.P.A. 53.90 -0.7% Stock price decreasing

Copyright Euroinvestor A/S 2014   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
23 December 2014 00:06:36
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20141219.2 - EUROWEB7 - 2014-12-23 01:06:36 - 2014-12-23 00:06:36 - 1000 - Website: OKAY