Essilor acquisitions bring growth

Essilor has announced consolidated revenue of €3.0745bn for the year ended December 31 2008, a 5.7 per cent increase on the previous year. Excluding the currency effect, growth for the year was 9.7 per cent.

The company attributed its growth to a variety of factors including its acquisitions strategy. It also expects to see further increases in revenue at constant exchange rates in 2009.

Essilor claimed that 'acquisitions will play a dominant role in driving growth, as the strength of the company's balance sheet enables it to seize a large number of opportunities'.

A total of 25 acquisitions were made by Essilor during 2008, contributing €93m in revenue. During the fourth quarter Essilor acquired at least a majority interest in seven new US prescription laboratories.