IN BRIEF: Inspecs sees lower earnings despite second half progress
Inspecs Group PLC - Designer, manufacturer and distributor of eyewear - On Thursday, says it expects to see 2024 earnings below expectations, but it hails progress in the second half of the year. Revenue for 2024 is expected to have amounted to GBP200.5 million, a decline from GBP203.3 million in 2023. Underlying earnings before interest, tax, depreciation and amortisation of GBP17.5 million are expected, a decline from GBP18.0 million. "Whilst total revenue and underlying Ebitda for the group in 2024 was behind our original expectations, revenue growth was achieved in the second half of the year," Chief Executive Officer Richard Peck says. In the second half alone, revenue improves 5.9% on-year. Inspecs adds: "The group has made a solid start to 2025 and is confident of its ability to continue to reduce debt and increase margins and underlying Ebitda." Read More