The British glasses group Inspecs Group PLC had to take a loss of sales in the 2024 financial year and a significantly higher loss.
CEO Richard Peck attributed the results published on Thursday to the generally weaker demand from the customer: inside. In view of the “difficult macroeconomic conditions”, the company demonstrated “resistance” and made strategic progress last year, he said in a statement. Among other things, the group was able to expand its production capacities, expand the brand portfolio and implement measures to increase efficiency.
The group, which also includes German glasses providers Eschenbach Optik GmbH and Bode Design GmbH, generated sales of 198.3 million pounds (231.4 million euros) in 2024. This corresponded to a decrease of 2.5 percent compared to the previous year. Adjusted to change course changes, the revenues remained about constant.
The result of interest, taxes and depreciation (EBITDA), which was adjusted for special effects, also missed the previous year’s level. It dropped by 2.5 percent to £ 17.6 million. The bottom line was a net loss of 4.6 million British pounds (5.4 million euros). In 2023, the shortfall was just under £ 1.0 million.
Although the possible effects of international customs development are not yet concrete, the group is aiming for increases in sales for the coming years. The Tom Tailor Eyewear brand should contribute to this, whose license had secured the German subsidiary Eschenbach optics last August.