MILAN Feb 27 Ray-Ban sunglasses maker Luxottica
forecast sales and profit growth in 2014, driven by
emerging markets, as it posted fourth-quarter net profit of 25.9
million euros ($35.4 million).
Net profit was 65.4 percent lower than in the same period of
the previous year, depleted by a one-off tax payment and an
allocation of funds to cover taxes in the coming years.
Luxottica, which makes eyewear for luxury brands including
Prada and Giorgio Armani, reported adjusted net profit
up 9.1 percent to 92.6 million euros. Sales rose 0.8 percent at
current exchange rates to 1.646 billion euros in the quarter.
Chief executive Andrea Guerra said the early months of 2014
were delivering positive results despite bad weather and said
emerging markets would grow faster than developed markets.
"We think that developed markets will continue to contribute
positively to group sales and profitability and expect even
stronger growth in emerging markets, where we are continuing to
invest," Guerra said in a statement.
The company said it would pay a cash dividend of 0.65 euros
per share, equivalent to half the group's adjusted net income.
($1 = 0.7309 euros)
(Reporting by Isla Binnie, editing by Danilo Masoni)