Essilor profits hit by German antitrust fine

Essilor's first half profits for 2010 were hit by the €41.3m fine imposed by the German antitrust authority the BKA, down 1.3 per cent to €197.5m.

Without the fine, which is being appealed, the profit would have been up 19.3 per cent to €238.8m, in what Essilor described as a very good first half. Revenue sharply increased by 15.8 per cent to €1,926.8m, while there was a strong increase in free cash flow, up 72 per cent.

'In an ophthalmic optics market that is slowly but steadily improving, Essilor continued to increase its global market share by leveraging its innovative products and accelerating the deployment of its targeted acquisitions strategy. For the period, the company posted revenue growth of 5.9 per cent excluding the currency effect and strategic acquisitions, in line with its full-year objective.'