More turnover and profit for GrandVision in 2016

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.