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Essilor International reports 2.9% increase in first-half revenue

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CHARENTON-LE-PONT, France — Essilor International reported consolidated revenue of Euro 1.52 billion for the first half of 2008, representing a 2.9% increase compared with Euro 1.48 billion reported during the same period last year, the company announced in a press release.

Essilor's like-for-like growth for the first half of 2008 totaled 5.4%. Excluding the effect of foreign currency exchange rates, growth was maintained at 9.6%, in part because of 4.2% in sustained acquisitions drive, the release said.

First-half consolidated revenues in Europe totaled Euro 697.2 million, up 3.2% compared with Euro 675.7 million during the first half of 2007.

Consolidated revenues in North America totaled Euro 625.4 million for the first half of 2008, representing a 0.5% increase over Euro 622.4 million during the same period last year.

In the United States, a decline in optical chain revenue was offset by strong growth and increased market share among independent eye care professionals - enabling Essilor of America to report 7.4% like-for-like growth for the half.

Essilor subsidiaries in the Asia-Pacific region reported Euro137.1 million in consolidated revenue, representing a 6.6% increase over Euro 128.6 reported during the same period last year.

The company's operations in Latin America reported Euro 60.6 million in revenue, a 21% rise from Euro 50.1 during the first half of 2007. Specifically, revenue from operations in Argentina and Mexico grew by about 30%, according to the release.