Bacou-Dalloz, a French-based group where Essilor is now the main shareholder with a 15.13 percent stake, has completed the implementation of a ?one-stop shopping? structure in Europe for all its personal protection items, including safety glasses and work shoes, and the first results have been very encouraging. The same structure should become operational in the USA by the 2nd half of 2004. The international French-based group reports a drop in its operating margin (Ebitda) to 11.9 percent for the 1st half of 2003, down from 14.6 percent in the year-ago period, mainly due to the stronger euro and the persistently tough market situation in Europe. Net income dropped by 40.2 percent to €13.1 million as revenues fell by 11.2 percent to €405.0 million, resulting in a net margin of 3.2 percent.