Shamir profits surge

Israeli lens manufacturer Shamir, which specialises in progressive lenses, has posted second-quarter unaudited results which show a 25.4 per cent increase in revenues to $37.1m compared to £29.6m for the same period in 2007.

Gross profit for the quarter ending June 30 2008 increased by 28.9 per cent to $20.1m compared to gross profit of $15.6m for the same period last year.

Shamir's chief executive officer, Eyal Hayardeny, said the second quarter delivered improved operating results from Europe and the US, where the company has made significant inroads.

'Progress continued towards advancing our European distribution network as we purchased the remaining 49 per cent of Altra Trading, through which we hold our European operations,' said Hayardeny.