3rd Jun 2025 11:51
(Alliance News) - Inspecs Group PLC on Tuesday said it expects 2025 revenue to be broadly flat against its 2024 result, in a statement planned for the group's annual general meeting.
The Bath, England-based producer of eyewear solutions, including eyewear frames, low-vision aids, and lenses, said uncertainty around US tariffs has hurt sales during the year to date.
"However, demand in Europe has begun to strengthen, and projects with major retailers in the US and Canada are progressing well," Chair Robin Totterman said in the meeting statement.
Inspecs also left its guidance for earnings before interest, tax, depreciation and amortisation unchanged. The firm did not on Tuesday provide a specific guidance, though Peel Hunt has forecast GBP18.5 million in adjusted Ebitda, against GBP17.6 million in underlying Ebitda in 2024.
The company said it remains focused on improving "operational efficiency" and putting in place "cost-saving initiatives which are expected to accelerate in the second half". Inspecs expects the strategic review of its lens business, Norville, to conclude by the end of June.
The firm added it was making "good progress" in its search for a new independent non-executive chair and chief financial officer, updates on which will be provided "in due course". Totterman will step down as chair at the end of Tuesday's annual general meeting.
Shares in Inspecs were down 8.2% at 49.55 pence in London on Tuesday afternoon. The stock is down 35% over the past year.
By Emily Parsons, Alliance News reporter
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