The company reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 111 million euros ($123 million), up from 106 million euros in the same period a year earlier, on revenue of 786 million euros.

Analysts polled by Reuters had seen EBITDA at 120 million euros on revenue of 784 million euros.

GrandVision, which went public in February last year, said the EBITDA shortfall was largely due to acquisition-related costs after its purchase of the U.S. chain "For Eyes".

The company intends to continue with its strategy of acquiring smaller eyeglass chain stores this year to benefit from economies of scale, and stood by its medium-term target of high single-digit EBITDA growth and revenue growth of at least 5 percent.

GrandVision owns 6,110 stores in Europe, Latin America, the Middle East and Asia, including chains such as Vision Express in Britain and Apollo-Optik in Germany.

($1 = 0.9014 euros)

(Reporting by Toby Sterling; Editing by Gopakumar Warrier)