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Essilor sales increase in first half of 2005
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Essilor International announced a 6.7% increase in sales in the first half of 2005 over the same period in 2004, reflecting what the company called a strong demand for its products in Europe and elsewhere.
“Acquisitions made in 2004 and the first half of 2005 added 3.2% of sales growth, while the currency effect eased to a negative 1.1% following the rise in the dollar against the euro,” the spectacle-lens manufacturer stated in a press release.
The growth was led by a strong demand in Europe and other regions, an increase in lens volume sales and new product launches, the press release said.
Essilor pursued an external growth strategy in the first half of 2005 with the acquisition of 12 companies representing a total investment of about $126.6 million, according to the release.
“In addition, the acquisition of Johnson & Johnson’s ophthalmic lens business will enhance Essilor’s progressive lens portfolio,” the company stated.
The company said it anticipates that its total 2005 results will aid its long-term growth objectives.
“While second-half earnings should be good, margins are not expected to be as high as in the first half, notably because operating expense is forecast to be higher in the second half,” the release said.