Essilor reports third quarter revenue growth

Essilor International experienced like-for-like revenue growth of 5% in the third quarter of 2018 with consolidated revenue standing at €5.37 million (£4.74m) for the nine months of the year.

The company reported that its lenses and optical instruments division saw like-for-like sales increase by 4.5% in the third quarter, as well as double digit growth in its sunglasses and readers division.

Deputy chief executive officer of Essilor International, Laurent Vacheront, said: “Essilor’s strategy, which supports its mission to improve sight across the globe, is continuing to bear fruit. We have gradually created a path to a more sustainable growth dynamic this year thanks to the breadth of our product innovation, our successful sunwear brands and online businesses and the resumption of our acquisition policy.”

In Europe, like-for-like sales grew by 1.4% which Essilor said was driven by the launch of the Varilux X series, Crizal Sapphire lenses and Transitions photochromic lenses.

The new EssilorLuxottica name has been used since 1 October, but the companies operated independently during the third quarter and as such have reported results separately.

Luxottica Group’s net sales in the third quarter were €2.21m (£1.95m), which is an increase of 3.5% at constant exchange rates. In the first nine months of the year, net sales grew by 1.3% to €6.76m (£5.96m).