Dutch optician chain GrandVision has raised its turnover and profit in its fiscal year 2016. Pearle’s parent company underwent quite an expansion last year, but it also managed like-for-like growth.
Stagnated in Western Europe
GrandVision’s total turnover reached 3.3 billion euro (+ 3.5 %) in 2016. Ignoring exchange rate fluctuations, growth would even have reached 6.5 %. Its turnover growth was partially caused by acquisitions, but its like-for-like turnover also grew 2.2 %. In terms of profit, EBITDA went up 6.7 % to 537 million euro and net profit spiked 8.8 % to 231 million euro.
GrandVision’s most important market, Western Europe, stagnated with a 2 billion euro turnover. In the rest of Europe, turnover grew 2.7 % to 907 million euro, while the emerging markets in America and Asia surged about 25 % to 440 million euro. The company mentioned it especially sold more one-time contact lenses and sunglasses in 2016.
