Hoya Profits and Revenue Increased in Q2 2018
Hoya announced their financial results for the second quarter, ending Sept. 30, 2018.
Hoya’s announced revenue increased to 142,000 million yen, a 4.6 percent year over year increase. Profit before tax was 38,400 million yen, a 16.8 percent increase.
A strong performance in the Americas drove growth in eyeglass sales. Overall, the life care segment grew 4.6 percent thanks in part to the acquisition of Performance Optics.
“Profit margin of the Life Care segment reached 21% this quarter achieving the annual margin target of 20%,” said Hiroshi Suzuki, chief executive officer of HOYA. “We aim to stabilize this level while investing into growth opportunities.”
Hoya credits new store openings of Eyecity, a Japanese specialty contact lens retailer operated by Hoya with now over 250 locations, with increasing their performance in contact lens sales.
View the complete press release HERE.