PARIS (dpa-AFX) - French ophthalmic company EssilorLuxottica SA (ESLOF.PK, ESLOY.PK), formed with the merger between Essilor International SA and Luxottica, reported Friday that its fiscal 2018 pro forma adjusted net profit was 1.87 billion euros, compared to 1.90 billion euros a year ago.
EssilorLuxottica reported pro forma revenues of 16.16 billion euros, compared to 16.35 billion euros last year.
Pro forma revenues grew 3.2% at constant exchange rates. Essilor and Luxottica both contributed to the positive performance. Business improved across all regions, the company noted.
Essilor's adjusted net profit came to 923 million euros, compared with 942 million euros in 2017. Revenue was 7.46 billion euros, up 4.6% from the previous year on a like-for-like4 basis, including 5.7% in the fourth quarter.
Luxottica net profit for the fiscal year 2018 on an adjusted basis was down 2% to 951 million euros. Consolidated sales were over 8.93 billion euros, down 2.8 percent on a reported basis, but up 1.5% at constant exchange rates.
Further, the Board of Directors will recommend that shareholders at the Annual Meeting to be held on May 16, 2019 approve the payment of a dividend of 2.04 euros per share.
Looking ahead for fiscal 2019, the company is projecting sales growth of 3.5 percent to 5 percent, including synergies and at constant exchange rates.
In Paris, EssilorLuxottica shares were trading at 103.95 euros, down 4.33 percent.
Copyright RTT News/dpa-AFX