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Luxottica Optimistic About 2010
 Italian eyewear maker Luxottica is confident about next year reports Reuters. The company recorded a big 20.6% plung in 3rd quarter profit. However, sales started trickling up for the eyewear manufacturer. Q3 sales rose 0.9%. Andrea Guerra says the worst is behind the stylish eyewear manufacturer.
"2009 has been a challenging year but the worst is behind us. Today we are looking to the future with optimism," Guerra said, speaking at an earlier shareholders' meeting, where the payment of a dividend of 0.22 euro per share was approved.
He said Luxottica was working towards making 2010 "a return to normality" for the maker of Prada and Ray-Ban sunglasses.
On a conference call with analysts, he said Luxottica was building to go back to mid-single digit growth in 2010 sales and the ratio between EBITDA and debt should be below 2.5 times.
"We want to have a strong growth in profitability, we want to be back to our normal terms," Guerra said.
We will soon find out if Luxottica is correct as 2010 is not that far away.
Posted on October 29, 2009
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