scope of consolidation from disposals
Net cash and cash equivalents declined to EUR109.4 million, from EUR259.6 million at year-end 2007 as the Company' high profitability and robust performance enabled it to pursue an ambitious program of industrial and financial investment and to increase dividends. Net cash and cash equivalents were also affected by the seasonal impact of annual discount payments to customers, which are generally concentrated in the first half.
Related party transactions / Risks and contingencies
In first-half 2008, the nature of transactions with companies consolidated by the proportionate or equity method was not significantly different from the description in the 2007 Registration Document.
Similarly, risks and contingencies to which the Company is exposed in the months ahead are generally in line with the analysis presented in Chapter 4 of the Registration Document.
In the second half, Essilor will pursue its strategy of deploying
valued-added products, developing in the international marketplace and
expanding through acquisitions. Full year performance is expected once
again to confirm Essilor's ability to drive steady growth in both revenue
Investor Relations and Financial Communications
Veronique Gillet - Sebastien Leroy
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