Profits surge at Luxottica

Luxottica Group recorded a 21 per cent rise in net profit at €195.5m in its second quarter results compared to €162m in the same period in 2011, with net sales up 15 per cent at €1.882bn.

The company cited Oakley and Ray-Ban among the best performing brands, with the premium and luxury segment also reporting double-digit growth. Sales increased in emerging markets by 35 per cent, in North America by 8 per cent and Western Europe by 1 per cent.

However, the company added that there was a 'dual speed performance' in Europe with very positive sales in Continental and Northern Europe driven by the UK, Germany and Nordic countries, with France positive, while Italy and Spain were down by mid-single digits. This fall compared to strong double-digit growth in the second quarter of 2011.