REG - Inspecs Group PLC - Trading Update

InspecsAnnouncement

09/12/2024 07:00

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RNS Number : 2710P  Inspecs Group PLC  09 December 2024

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 basis(1)) 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                         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 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 (https://inspecs.com) .

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