Inspecs H1 revenue and underlying earning seen lower YOY

6th Jun 2024 10:49

(Sharecast News) - Eyewear manufacturer Inspecs Group warned on Thursday that interim revenues and underlying earnings would be lower than the prior year and more in line with historic trading.

Ispecs said that following its "record result" for H123, partly due to elevated levels of ordering as retailers sought to secure their inventory positions post-Covid, revenue and EBITDA would be down year-on-year.

"We expect momentum to improve across the group's markets and to benefit from increased distribution and ongoing operational efficiencies. As a result, group guidance for the full year remains unchanged," said Inspecs.

The AIM-listed group also noted that the launch of its first in-house designed direct-to-consumer gaming eyewear range in London will take place on Thursday and said it will benefit from extra capacity in its new Vietnamese facility in H2.

As of 1045 BST, Inspecs shares were down 13.97% at 62.80p.

Reporting by Iain Gilbert at Sharecast.com