Luxottica back on song for 50th year

Luxottica witnessed a return to 'normal' in 2010 according to its financial results for the year.

Net profit for 2010 increased 34.5 per cent in comparison to 2009 to €402.2m while net sales increased 7.1 per cent at constant exchange rates to €5.798bn. This revealed a more than proportionate increase in profitability relative to sales growth.

Commenting on the results Andrea Guerra, Luxottica's chief executive officer, said: 'We are particularly satisfied with these results, obtained in a context in which only truly extraordinary companies and brands enjoy success.'

Looking forward to 2011, a year which marks Luxottica's 50th anniversary, he said there would be four 'main engines' behind Luxottica's growth for the year, which included the global expansion of Sunglass Hut and the potential of Oakley as well as further development in emerging markets and the US.