Ray-Ban Maker EssilorLuxottica Backs Midterm Targets After Profit Rises
By Michael Susin
EssilorLuxottica on Thursday said sales and profit rose in the first half and backed its midterm growth targets.
The Franco-Italian eyewear group made an adjusted operating profit of 2.43 billion euros ($2.63 billion), compared with EUR2.35 billion the same period last year.
The group's operating margin rose 50 basis points to 18.8%. It made a net profit of EUR1.365 billion compared with EUR1.361 billion.
Revenue came in at EUR13.29 billion from EUR12.85 billion.
The Ray-Ban maker said revenue in all regions rose by high single digits in the period, with the exception of slower growth North America. The Europe, Middle-East and Africa region was again driving most of the growth, it said.
The group didn't disclose specific targets for 2024.
It backed its targets for 2022-26. It continues to expect mid-single-digit annual revenue growth at constant exchange rates and an adjusted operating margin of between 19% and 20% by the end of that period.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
July 25, 2024 12:39 ET (16:39 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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