Luxottica sees profits soar in first quarter

Luxottica has posted a 10.5 per cent rise in net income for the first quarter - with its Ray-Ban and Oakley brands leading the charge.

The company, which last month launched Luxboutique in the UK (News 26.04.13), saw net income reach €159m for the three months ended March 31. Net sales in the period reached €1.9bn and were boosted by emerging markets.

Andrea Guerra, chief executive officer of Luxottica, said: 'We achieved significant growth especially in emerging countries, where net sales increased by almost 20 per cent at constant exchange rate.

'In Europe, we are performing at three different speeds. In Eastern Europe, growth has been very fast, in Continental Europe the results have exceeded expectations and are extremely satisfactory, and in Mediterranean Europe the business is going through a difficult patch, but Italy is keeping the pace thanks to the investments made by the group.