Luxottica encouraged by signs of growth

A major indication of improvement in the global optical market came as the world's biggest frame manufacturer, Luxottica, said it expected a 'return to normal' during 2010 in terms of its sales growth, improvement in profit margins and debt reduction.

Announcing its fourth quarter financial results for 2009, Luxottica disclosed that during the quarter markets continued to stabilise, adding that the final two months of the year showed 'encouraging signs of growth'. During November and December the company's consolidated sales were up by 4.7 per cent in comparison to the same period the previous year at constant exchange rates and adjusting for an additional week of sales. Luxottica revealed that signs of recovery were seen in Western Europe as well as the US.