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Inspecs Group Plc ( (GB:SPEC) ) has issued an announcement.
INSPECS Group plc announced its preliminary unaudited results for 2024, highlighting a 2.5% decline in revenue to £198.3m due to softer consumer demand and competitor consolidation. Despite this, the company improved its gross profit margin by 130 basis points to 52.2% and reduced net debt by £1.3m. Strategic initiatives, including the completion of a new manufacturing facility in Vietnam and the launch of new products, have enhanced operational efficiency and expanded the brand portfolio. The company remains optimistic about its medium-term targets, aiming for significant revenue growth and improved EBITDA margins, while addressing tariff-related uncertainties through supply chain efficiencies and cost management.
More about Inspecs Group Plc
INSPECS Group plc is a leading provider in the global eyewear market, specializing in the design, manufacture, and distribution of a wide range of eyewear products, including optical frames, sunglasses, and low vision aids. The company operates a vertically integrated business model, with a focus on expanding its own-brand portfolio and global distribution network. INSPECS has a presence in over 80 countries, with manufacturing facilities in Vietnam, China, the UK, and Italy, and serves a diverse clientele of global optical and non-optical retailers, distributors, and independent opticians.
YTD Price Performance: -9.89%
Average Trading Volume: 264,575
Technical Sentiment Signal: Strong Buy
Current Market Cap: £40.67M
Find detailed analytics on SPEC stock on TipRanks’ Stock Analysis page.