Leading eyewear designer, manufacturer and distributer Inspecs (SPEC:AIM) said full-year trading to 31 December was in line with the board’s expectations.
Looking to 2022 management said it remained confident in delivering sustained growth underpinned by recent acquisitions and ‘multiple’ market opportunities across the globe.
The shares were unchanged at 380p, roughly in the middle of their 350p to 400p trading range since April last year.
BOOST TO REVENUES
Full-year revenues are expected to be approximately $241 million compared with $47.4 million last year, boosted by the acquisition of Eschenbach in December 2020.
The company said the integration was progressing according to plan with further synergies expected to be realised in 2022.
The group also completed the strategic acquisitions of Swedish eyewear company EGO and German distributor BoDe Design, broadening the group’s brand portfolio and distribution.
Inspecs’ Asian factories maintained production throughout the last year despite supply chain and Covid-19 restrictions while the group’s new Vietnam facility is now fully operational and plans are being drawn up for a third facility.
The company’s new state-of-the-art lens manufacturing facility in Gloucester is nearing completion and initial production started at the end of last month.
Chief executive Robin Totterman commented: ‘The Group now has over 35 licensed and owned brands available to our customers around the world, and the ability to provide a sustainable one-stop-shop frame and lens package continues to gain momentum.’
