REG - Inspecs Group PLC - Half Year Trading Update

InspecsAnnouncement

Thu 07:01

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RNS Number : 2825T  Inspecs Group PLC  31 July 2025

31 July 2025

 

Inspecs Group plc

("INSPECS" or "the Group")

 

Half Year 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 six months ended 30 June 2025, ahead of reporting its
interim results on 18 September 2025.

 

Trading update

As reported on 3 June 2025, Group sales to the end of May were impacted by the
uncertainty surrounding US tariffs. This continued throughout June and as a
result, Group revenue for H1 2025 was £100.0 million, a 2.9% decrease
compared to H1 2024. On a constant currency basis(1), revenue for H1 2025 was
£101.7 million, a 1.3% decrease compared to H1 2024. The Board expects to
report Underlying EBITDA for H1 2025 of circa £8.2m (H1 2024: £10.1m) on a
like-for-like basis(2).

 

We have a strong order book for H2 2025 and, once trade negotiations are
settled, we expect our businesses affected by the tariffs to return to growth
in the second half of the year. We have also secured the listing of key brands
into the European and US markets. Further to the update provided on 3 June
2025, the operational efficiency and cost-saving plans, including the
consolidation of our US, German and Swedish operations, are expected to yield
additional savings in H2. As a result, we now expect full year revenue and
Underlying EBITDA to be in line with 2024 on a like-for-like basis(2).

 

Norville strategic review

INSPECS has completed the strategic review of its lens manufacturing
subsidiary, Norville (20/20) Limited ("Norville"). As a result, the Group is
now actively engaged in discussions with a number of strategically aligned
buyers about a sale of the business as a going concern. Meanwhile, monthly
losses have been materially reduced in Q2.

 

Non-Executive Chair recruitment

Good progress has been made in the process of recruiting a new Independent
Non-Executive Chair. An excellent candidate has been identified and, subject
to satisfactory completion of normal due diligence procedures, an announcement
of the appointment is expected to be made shortly.

 

 

1.     Constant exchange rates: figures at constant exchange rates have
been calculated using the average exchange rates in effect for the
corresponding period in the relevant comparative year.

2.     The Group will show the financial performance of Norville (20/20)
Limited separately in its interim results as a discontinued operation.
However, in this announcement figures are given on a like-for-like basis (i.e.
including Norville).

 

 

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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