CHARENTON-LE-PONT, France—Essilor International [ISIN: FR 0000121667] reported consolidated revenue of €1,520.3 million for the six months ended June 30, 2008, a 2.9 percent increase over first half 2007. Like-for-like growth was 5.4 percent, while growth excluding the currency effect was maintained at 9.6 percent, lifted 4.2 percent by the company’s sustained acquisitions drive.

Essilor said its robust performance, despite the challenging economic conditions, would result in a further increase in earnings, with operating margin held firm at 2007 levels.

First-half like-for-like growth reflected a gain of 6.2 percent in the first quarter, followed by 4.6 percent in the second. Of the 4.2 percent growth from changes in the scope of consolidation, 2.9 percent came from acquisitions made in 2007, led by OOGP, KBco and ILT, Essilor reported. Consolidation of companies acquired since the beginning of 2008 added 1.3 point of external growth.

In Europe, Essilor’s consolidated revenue of €697.2 million for the first half of 2008, up 3.2 percent over year-ago, or 2.7 percent like-for-like. The company noted that growth was dampened both by an unfavorable comparison with first-half 2007, when revenue rose 8.4 percent on the launch of Varilux Physio and Anateo, and by the generally weaker economy. A strong performance in Germany and the Netherlands contrasted with slower growth in the U.K., Spain and Italy, while positions were maintained in France.

In North America, Essilor posted consolidated revenue of €625.4 million for the first half of 2008, up 0.5 over year-ago, or 7.0 percent like-for-like. In the U.S., Essilor said the slowdown at certain optical chains was offset by robust growth at independent eyecare professionals, among whom the company continued to widen its market share. This enabled Essilor of America to report 7.4 percent like-for-like growth for the half. Business was also satisfactory in Canada, Essilor reported.

In the Asia-Pacific region, Essilor reported consolidated revenue of € 137.1 million, up 6.6 percent over year-ago, or 6.9 percent like-for-like. Performance varied by country in the Asia-Pacific region, with growth remaining very strong in the ASEAN countries, India and South Korea, but slowing in China in the second quarter. Despite difficulties at the beginning of the year, Essilor said business in Australia and New Zealand is starting to recover, especially in the independent eyecare professionals segment. In Japan, the company said it continues to gain market share in a flat market.

In Latin America, consolidated revenue climbed to €60.6 million, up 21.0 percent over year-ago, or 17.6 percent like-for-like. Operations in Argentina and Mexico were especially dynamic, with growth of around 30 percent, according to Essilor.