Luxottica Q1 operating profit beats forecast

Italian eyewear group Luxottica posted a higher-than-expected 33 percent rise in operating profit in the first quarter, which marked the debut of its two newly-appointed chief executives.

Earnings before interest and tax (EBIT) at the maker of Ray Ban sunglasses came in at 358 million euros ($399 million), topping a consensus forecast of 348 million euros thanks to efforts to keep a lid on cost rises.

Revenues were broadly in line with analyst estimates at 2.2 billion euros ($2.5 billion), rising 5 percent at constant currencies.

Luxottica stuck with its full-year forecast of a mid-to-high single digit increase in 2015 revenues at constant currencies, and predicted that operating and net profits would rise twice as fast as that. "We're getting ready for an aggressive second quarter. We expect to close the first half firmly in line with our guidance," co-chief Executive Massimo Vian told Reuters.