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Thursday, 26 January 2012 |
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The Italian owner of eyewear brands as Oakley and Ray-Ban
saw a 12% sales increase for the last quarter, fuelled by strong demand in America and buoying emerging markets.
Luxottica was highly positive on Wednesday after releasing quarterly report and expects net profit for the year to grow at full speed, concisely twice as fast as sales. If the Italian fashion house fulfils its hopes, net profit for 2011 would reach €456 million. The company will report profit on Feb. 28 and hold an investor meeting the following day.
The Italian eyewear maker´s net sales rose to €1.51 billion in the last three months of the year, compared to the €1.35 billion it bagged the previous year during the same period.
The sunglasses maker rose the most since May 2010 as analysts raised target prices after fourth-quarter sales beat estimates. Luxottica´s shares climbed over 6% to 25.45 euros. The shares have gained 15 percent this year, giving the company a market value of 11.6 billion euros, reported Reuters.
Analysts at Goldman Sacks, Bank of America, Intermonte, Cheuvreux, Deutsche Bank and Citigroup have raised target prices on Luxottica after knowing its figures.
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