Luxottica reports record profit growth of 18% for full year 2014
Global eyewear maker giant Luxottica said Monday its 2014 net profit grew 18% to EUR642.6 million, as sales and profitability rose in all areas.The group which owns brands such as Ray-Ban and Oakley and licenses the eyewear lines of luxury brands Bulgari, Dolce & Gabbana, Giorgio Armani, Chanel and Prada–said its free cash flow hit a record high of 802 million euros as of December 2014.
Fourth-quarter net profit grew over 30% on the year on a comparable basis to EUR121.6 million. Luxottica said it will propose to pay a dividend of EUR1.44, which amounts to its entire net profit for the year.Operating profit grew nearly 10% compared with the previous year to EUR1.2 billion, and increased 28% in the fourth quarter alone. The company also said that it forecasts “solid revenue growth and profitability to grow twice that of sales” for 2015.