Essilor sees growth in spite of European fall

Essilor International reported solid financial growth of 10.3 per cent during the first quarter of 2009 in comparison to the same period in 2008, or 5.4 per cent excluding the currency effect caused by the appreciation of the dollar and the yen against the euro.

Consolidated revenue for the three-month period ended March 31 2009 rose to €840.4m, although 6.4 per cent of the increase was attributed to the contribution from Essilor's acquisitions, meaning that comparable (like-for-like) sales fell by 1 per cent.

The lens and equipment manufacturer said that despite contracting demand during the year, attributable primarily to the instruments business, lens revenue was stable for the period and the market responded well to the launch of new products such as Crizal Forte and Essilor Transitions VI.