Luxottica sees strong full-year adjusted net profit growth after sales meet guidance

Italy’s Luxottica, the world’s biggest eyewear maker, is forecasting a “strong growth” in 2017 adjusted net income after meeting its full-year revenue guidance pushed by a strong fourth quarter.

Ray Ban

Luxottica is awaiting antitrust approval of the 50 billion euro (£43.9 billion) merger it agreed a year ago with rival Essilor to create a lens-to-frame manufacturer with a global shop network and a portfolio of top brands such as Ray Ban and Chanel.

Sales last year totalled 9.16 billion euros, up 2.2 percent net of currency moves, in line with a Thomson Reuters SmartEstimate analyst consensus.

Luxottica had guided for a ‘low to mid’ single-digit growth in sales at constant currencies this year and forecast a broadly similar rise in its adjusted operating and net profit.

“Adjusted net income (is) expected to grow strongly,” the company said on Monday.

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