HAL increases interest in Safilo Group

Vision Express parent company HAL Holding has reported a 5.1 per cent increase in revenues from its optical retail companies in the first quarter of 2012 at €585.7m, up €28.3m from €557.4m for the same quarter in 2011.

HAL added that, excluding the effect of acquisitions and currency exchange differences, optical revenues increased by 4.7 per cent to €26m. Same-store sales, at constant exchange rates rose 2.5 per cent in the first quarter, with operating income of €60m, compared to €51m for the same period in 2011.

The company added that it had increased its ownership interest in Safilo Group from 37.2 to 42.2 per cent. 'This change was a result of a capital increase of Safilo for €44.3m, fully subscribed by HAL. Safilo used the proceeds of the capital increase for the acquisition of Polaroid Eyewear, a global eyewear manufacturer and distributor,' it concluded.