February 20, 2017 / 7:21 AM / 9 months ago

Grandvision reports 5 percent rise in adjusted core profit

Feb 20 (Reuters) - Grandvision, the Dutch eyeglass store operator, on Monday reported a 5 percent rise in annual adjusted core profit driven by efficiency gains and a higher proportion of sales of exclusive brands.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of 537 million euros were in line with analysts’ estimates in a Reuters poll.

Revenue was also in line with estimates at 3.32 billion euros despite a negative currency effect of 3.1 percent linked to weakness in the British pound and emerging market currencies.

Reporting by Manon Jacob; editing by Jason Neely

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