UPDATE 2-EssilorLuxottica forecasts profit growth despite coronavirus impact [Reuters]
ESSILOR LXTTCA UNSP/ADR (ESLOY)
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Source: Reuters
UPDATE 2-EssilorLuxottica forecasts profit growth despite coronavirus impact * Profits and sales up in 2019 * Limited effect expected from coronavirus * Governance issues still outstanding * Shares down more than 3% (Adds details) By Matthias Blamont PARIS, March 6 (Reuters) - EssilorLuxottica expects continued profit growth this year after stronger 2019 results, saying on Friday the outbreak of coronavirus had not hit output at its Italian factories and its production in China was getting back to normal. The owner of eyewear brands such as Ray-Ban and Oliver Peoples, said the coronavirus had, however, hurt its Chinese business, which represents about 5% of its total revenue. Shares in EssilorLuxottica were down 3.24% in early trading, reflecting fears of disruptions to business from the coronavirus could lead to a prolonged global economic slowdown. “In terms of production, EssilorLuxottica plants in China are currently operating at slightly reduced capacity, which is quickly normali
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