Worst behind us, says Luxottica boss Guerra

Luxottica announced a 20.6 per cent decline in net profit during the third quarter of 2009 compared to the same period in 2008, but claimed the worst of the worldwide recession was now over.

Despite the drop in profits, the quarter was actually Luxottica's best so far in terms of sales, according to Luxottica chief executive Andrea Guerra. Sales for the period reached €1,223.3m, an increase of 0.9 per cent on sales of €1,212m in the third quarter of 2008.

Guerra said: 'Now that we are approaching the end of a year as demanding as 2009, we believe that the worst is behind us.' Revealing Luxottica's 2010 outlook he added: 'Today we are optimistic about the future. We are working to make sure that 2010 is again a normal year in which we enjoy growth in sales and a solid improvement in profitability greater than the growth in sales.'