9 December
2024
Inspecs Group plc
("Inspecs" or "the
Group")
Trading
Update
Inspecs Group plc, a leading
designer, manufacturer and distributor of eyewear (sunglasses,
optical frames, lenses and low vision products) provides a trading
update for the year ending 31 December 2024.
The Group has seen year on year
growth in the second half to date signalling overall positive
momentum, despite the improvement in Q4 sales not having been as
strong as anticipated. However, due to the slower recovery in our
European markets and the deferral of orders for some of the Group's
larger customers into 2025, the Board now expects to report revenue
for the year to 31 December 2024 of c.£197m (c.£202m on a constant
currency exchange rate basis1) and Underlying EBITDA in
the range of £17.4m to £17.9m.
The Group's new manufacturing
facility in Vietnam has now been completed, and we anticipate
stepping up production to meet demand through 2025.
The Group will provide a Full Year
Trading Update on 30 January 2025 and report its Final Results for
the year to 31 December 2024 in April 2025.
1 Constant currency exchange rates: figures at constant currency
exchange rates have been calculated using the average exchange
rates in effect for the relevant comparative period.
This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018
("MAR").
For further
information please contact:
|
Inspecs Group
plc
Richard Peck (CEO)
Chris Kay (CFO)
|
via FTI
Consulting
Tel: +44 (0)
20 3727 1000
|
|
Peel Hunt
(Nominated Adviser and Broker)
George Sellar
Andrew Clark
|
Tel: +44 (0)
20 7418 8900
|
|
FTI Consulting
(Financial PR)
Alex Beagley
Harriet Jackson
Amy Goldup
|
Tel: +44 (0)
20 3727 1000
|
About Inspecs
Group plc
INSPECS is a leading provider of
eyewear solutions to the global eyewear market. The Group produces
a broad range of eyewear frames, low vision aids and lenses,
covering optical, sunglasses and safety, which are either "Branded"
(under licence or under the Group's own proprietary brands), or
"OEM" (unbranded or private label on behalf of retail
customers).
INSPECS is building a global eyewear
business through its vertically integrated business model. Its
continued growth is underpinned by six core pillars: increasing the
penetration of its own-brand portfolio, increasing distribution,
growing its travel retail markets, maximising group synergies,
expanding its manufacturing capacity and scaling the research and
development department as it develops new and innovative eyewear
products.
The Group has operations across the
globe: with offices and subsidiaries in the UK, Germany, Portugal,
Scandinavia, the US and China (including Hong Kong, Macau and
Shenzhen), and manufacturing facilities in Vietnam, China, the UK
and Italy.
INSPECS customers are global optical
and non-optical retailers, global distributors and independent
opticians. Its distribution network covers over 80 countries and
reaches approximately 75,000 points of sale.
More information is available at:
https://inspecs.com.