25/07/2013 17:37:00

Luxottica 2Q Net Profit Rises As Sales Hit Record High

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.

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