Record first half results at Luxottica

Luxottica has predicted a full-year net income growth of 24 per cent on last year following ‘record’ first half results for 2006.

The international eyewear company revealed a consolidated operating income increase of €409m (+35.3 per cent) which CEO Andrea Guerra described as ‘outstanding all round in all regions and in both the wholesale and retail businesses’.

Retail operating income rose by 34.5 per cent to €238.3m with a margin of 13.3 per cent. Guerra commented: ‘On the retail front, Pearle Vision’s line by line P&L improvement proved that its new business model is the right one. Sunglass Hut posted a fifth quarter in a row of double-digit comparable store sales and its new, completely fashion-focused store environment is attracting the right profile of customers. Similarly, LensCrafters’ renewed focus on premium fashion and the highest standard of service is paying off.’