REG - Inspecs Group PLC - AGM Statement

InspecsAnnouncement

03/06/2025 07:00

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RNS Number : 1078L  Inspecs Group PLC  03 June 2025

3 June 2025

 

Inspecs Group plc

("Inspecs" or "the Group")

 

AGM statement

 

Inspecs Group plc, a leading designer, manufacturer, and distributor of
eyewear (sunglasses, optical frames, lenses and low vision products) announces
that the Company's Chair, Robin Totterman, will make the following statement
in respect of current trading at today's Annual General Meeting.

"The uncertainty surrounding US tariffs is impacting Group sales, which as of
the end of May were behind the prior year. However, demand in Europe has begun
to strengthen, and projects with major retailers in the US and Canada are
progressing well.

"As announced on 10 April 2025, the Group has initiated a strategic review of
Norville, its lens business. This review is expected to conclude by the end of
June 2025.

"The Board continues to make good progress in its search for a new Independent
Non-Executive Chair ("Chair") and a new Chief Financial Officer. An update on
these processes will be provided in due course.

"Despite the challenges faced since the start of the year, the Group remains
focused on improving operational efficiency and implementing cost-saving
initiatives which are expected to accelerate in the second half, to mitigate
these headwinds. We expect revenue for the full year 2025 to be broadly flat
versus 2024, and our guidance on EBITDA remains unchanged.

"At the conclusion of today's meeting, I will step down as Chair of the
Company, which I founded in 1988. I would like to take this opportunity to
thank everyone who has been part of the journey - our employees, suppliers,
and customers. I look forward to supporting the new Chair, once appointed, to
ensure a smooth transition as we continue to deliver value for all our
stakeholders."

 

For further information please contact:

 Inspecs Group plc                         via FTI Consulting

 Richard Peck (CEO)                        Tel: +44 (0) 20 3727 1000

 Chris Kay (CFO)
 Peel Hunt (Nominated Adviser and Broker)  Tel: +44 (0) 20 7418 8900

 George Sellar

 Andrew Clark

 FTI Consulting (Financial PR)             Tel: +44 (0) 20 3727 1000

 Alex Beagley

 Harriet Jackson

 Amy Goldup

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 increasing
the penetration of its own-brand portfolio, worldwide distribution, growing
retail presence, maximising group synergies and its global network, 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 (https://inspecs.com) .

 

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