Eyewear group EssilorLuxottica increases sales and profit

Eyewear giant EssilorLuxottica exceeded expectations for operating profit last year.

Adjusted operating margin, excluding non-recurring items, increased by 0.5 percentage points to 17 percent, the Franco-Italian company announced Wednesday in Charenton-le-Pont. Analysts had, on average, anticipated slightly lower figures.

The group, which owns brands such as Ray-Ban and Oakley, is the global market leader for eyeglasses, sunglasses, and contact lenses. Revenue rose by 4.4 percent to €26.5 billion. Net profit increased by 3 percent to €2.4 billion. The dividend for the past fiscal year is to be set at €3.95 per share.

Management aims to increase profitability to 19 to 20 percent in the coming years, through 2026.