Essilor released its Q3 17 trading results which were largely in line with our estimates with revenue at CER up 5.9% (vs AV’s estimate: +6.1%). Despite a series of natural disasters lopping off c.50bp from the top-line (hurricanes in southern US and the Caribbean and earthquakes in Mexico affected the Lenses and Sunglasses businesses), organic growth was satisfactory at +2.5% (vs AV’s estimate: +3.5%). In addition, acquisitive growth came in at +3.4% (vs AV’s estimate: +2.6%).
The lfl growth in ....
27 Oct 2017
A decent set of results; Q4 17 likely to be stronger organically
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A decent set of results; Q4 17 likely to be stronger organically
EssilorLuxottica SA (EI:WBO) | 0 0 1.9% | Mkt Cap: 24,290m
- Published:
27 Oct 2017 -
Author:
Sumit Sayal -
Pages:
4
Essilor released its Q3 17 trading results which were largely in line with our estimates with revenue at CER up 5.9% (vs AV’s estimate: +6.1%). Despite a series of natural disasters lopping off c.50bp from the top-line (hurricanes in southern US and the Caribbean and earthquakes in Mexico affected the Lenses and Sunglasses businesses), organic growth was satisfactory at +2.5% (vs AV’s estimate: +3.5%). In addition, acquisitive growth came in at +3.4% (vs AV’s estimate: +2.6%).
The lfl growth in ....