Growth maintained at German multiple

Despite an 18 per cent drop in sales for its optical industry since 2002, Germany’s main multiple, Fielmann, has continued to buck the trend by posting another set of positive results.

Sales for the first nine months of 2005 rose 18 per cent on the same period last year and increased 10 per cent compared to 2002, the last full year before Germany’s health reforms caused 2003 and 2004 to be abnormally high and low respectively.

January to September sales rose 18.3 per cent to €186.4m while profits rose 56 per cent to €16.6m

The management board said the sales increase was partly due to the company’s ‘glasses for free insurance’ scheme which has attracted more than 1.1 million customers since its launch last October.

Read the full story in the Friday's Optician