Essilor: down 6% after new profit warning.

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(CercleFinance.com) - Barely a month before the end of the financial year, Essilor International has made a double profit warning on forecasts for 2016.

On 29 July when the group published its interim financial statements, the global ophthalmic optics giant downgraded its organic sales growth forecast for 2016 'from about 5%' to 'about 4.5%.' At stake: a poor 'sunny season,' penalised by weather conditions and difficulties in China. However, it was still targeting an adjusted operating margin of at least 18.8%.

On 21 October, Essilor confirmed these forecasts with a non-binding statement: 'the group remains committed to obtaining results that are as close as possible to its annual targets.'

Then this morning, the group from Charenton-le-Pont reduced all its forecasts: in 2016, it only expects organic growth of 'around 3.5%,' with the market's slowdown being confirmed in the United States in particular. It has also reduced its margin forecast to about 18.5%.


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