HAMBURG (dpa-AFX) - The optical group Fielmann has recorded a significant increase in sales and profits in the third quarter. The company benefited from strong organic growth in its existing markets, as the SDax-listed company announced in Hamburg on Thursday. The recession and subdued consumer sentiment played into Fielmann's hands, the management explained the development in the quarter. Takeovers and cost savings gave the chain an additional boost.

Group sales rose by 13.8 per cent to around 526 million euros in the quarter. Organic growth amounted to ten percent, with the remainder coming from acquisitions. The ongoing savings program had a positive effect on earnings. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose disproportionately by more than a third to 130 million euros. Before taxes, Fielmann earned 65 million euros, a quarter more than in the same period last year. The company therefore performed better than analysts had expected.

Fielmann confirmed the annual forecast raised in September in view of the completion of two acquisitions in the USA. External sales (including VAT and changes in inventories) and consolidated sales are both expected to increase by around 13 per cent to around 2.3 billion and 2.0 billion euros respectively. The operating result (EBITDA) and pre-tax profit are expected to grow by 18 per cent each to around 400 million and over 190 million euros respectively./nas/ngu/he