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Luxottica profit holds mostly steady YOY in H1

Luxottica Group S.p.A. said its first-half normalized net income was €1.06 per share, compared with the S&P Capital IQ consensus estimate of €1.06 per share.

In the prior-year period, the per-share result came in at a profit of €1.07.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €512.7 million, compared with €514.8 million in the year-earlier period.

Total revenue grew year over year to €4.72 billion from €4.67 billion, and total operating expenses grew on an annual basis to €3.87 billion from €3.79 billion.

Reported net income declined 5.6% from the prior-year period to €476.6 million, or 99 cents per share, from €504.8 million, or €1.05 per share.