CHARENTON-LE-PONT, France, July 17 /PRNewswire-FirstCall/ --
- First-Half 2008 Revenue Up
- 5.4% Like-for-Like
- 9.6% at Constant Exchange Rates Essilor International, the world leader in ophthalmic optics, today announced consolidated revenue of EUR1,520.3 million for the six months ended June 30, 2008, representing a reported 2.9% increase on first half 2007.
Like-for-like growth was 5.4%, in line with trend rates, while growth excluding the currency effect was maintained at a strong 9.6%, lifted by the Company's sustained acquisitions drive (4.2%). This robust performance in a challenging economic environment demonstrates the solid strength of the Company's growth model, built around innovation and acquisitions-led expansion.
As a result, Essilor confirms that the first half will see a further
increase in earnings, with operating margin held firm at 2007 levels.
Consolidated revenue for the first six months of 2008
EUR millions First half 2008 First half % change % change
2007 (reported)* (like-for-
Total 1,520.3 1,476.9 + 2.9% + 5.4%
Europe 697.2 675.7 + 3.2% + 2.7%
North America 625.4 622.4 + 0.5% + 7.0%
Asia-Pacific 137.1 128.6 + 6.6% + 6.9%
Latin America 60.6 50.1 + 21.0% + 17.6%
(*) Changes in scope of consolidation added 4.2%; the currency
effect was a negative 6.6%.
First-half like-for-like growth reflected a gain of 6.2% in the first quarter, followed by 4.6%(1) in the second. Note that the year-earlier basis of comparison was high, with like-for-like growth of 8.4% in the first-half and of 8.9% in the second quarter alone.
Of the 4.2% in growth from ch
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