Inspecs Group reports sales decline and higher loss
Image: Inspecs British eyewear group Inspecs Group plc faced a decline in sales and a significantly higher loss in fiscal year 2024. CEO Richard Peck attributed the results, published on Thursday, to generally weaker customer demand. In light of the "difficult macroeconomic conditions," he stated that the company had demonstrated "resilience" and made strategic progress in the past year. Among other things, the group was able to expand its production capacities, broaden its brand portfolio, and implement measures to increase efficiency. The group, which also includes the German eyewear providers Eschenbach Optik GmbH and BoDe Design GmbH, generated sales of 198.3 million pounds in 2024. This represented a decrease of 2.5 percent compared to the previous year. Adjusted for exchange rate fluctuations, revenues remained roughly constant. The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) also fell short of the previous year's level, decreasing by 2.5 percent to 17.6 million pounds. The bottom line was a net loss of 4.6 million pounds. In 2023, the deficit had amounted to just under 1.0 million pounds. Although the potential impacts of international tariff developments are not yet foreseeable, the group is aiming for sales growth in the coming years. The Tom Tailor Eyewear brand, whose license was secured by the German subsidiary Eschenbach Optik last August, is expected to contribute to this growth. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
British eyewear group Inspecs Group plc faced a decline in sales and a significantly higher loss in fiscal year 2024. CEO Richard Peck attributed the results, published on Thursday, to generally weaker customer demand.
In light of the "difficult macroeconomic conditions," he stated that the company had demonstrated "resilience" and made strategic progress in the past year. Among other things, the group was able to expand its production capacities, broaden its brand portfolio, and implement measures to increase efficiency.
The group, which also includes the German eyewear providers Eschenbach Optik GmbH and BoDe Design GmbH, generated sales of 198.3 million pounds in 2024. This represented a decrease of 2.5 percent compared to the previous year. Adjusted for exchange rate fluctuations, revenues remained roughly constant.
The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) also fell short of the previous year's level, decreasing by 2.5 percent to 17.6 million pounds. The bottom line was a net loss of 4.6 million pounds. In 2023, the deficit had amounted to just under 1.0 million pounds.
Although the potential impacts of international tariff developments are not yet foreseeable, the group is aiming for sales growth in the coming years. The Tom Tailor Eyewear brand, whose license was secured by the German subsidiary Eschenbach Optik last August, is expected to contribute to this growth.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
This article was translated to English using an AI tool.
