Inspecs Group PLC Q1 Trading Update & Notice of Results (9539W)
29 Abril 2021 - 1:00AM
UK Regulatory
TIDMSPEC
RNS Number : 9539W
Inspecs Group PLC
29 April 2021
29(th) April 2021
Inspecs Group plc
("Inspecs", the "Company" or "the Group")
Q1 Trading Update & Notice of Results
Inspecs Group plc, a leading designer, manufacturer and
distributor of eyewear frames, today announces a trading update for
the three months to 31 March 2021 ahead of announcing Final Results
on 18 June 2021.
The Group delivered a strong trading performance in the first
quarter with revenues of $67m. This performance was achieved
despite nationwide lockdowns in the UK, Germany and France and a
variety of state lockdowns in the USA. Whilst this performance
marks a positive start to the year, the Board remains cautious on
2021 as COVID-19 remains prevalent across the world.
The integration of Eschenbach Holdings continues progressing to
plan and the benefits of the enlarged group working together are
starting to be realised, with a number of joint projects underway.
We look forward to driving further synergies and will provide a
more detailed update on progress at the Group's Final Results.
For further information please contact:
Inspecs Group plc via FTI Consulting
Robin Totterman (CEO) Tel: +44 (0) 20
Chris Kay (CFO) 3727 1000
Peel Hunt (Nominated Adviser and Broker) Tel: +44 (0) 20
Adrian Trimmings 7418 8900
Andrew Clark
Will Bell
FTI Consulting (Financial PR) Tel: +44 (0) 20
Alex Beagley 3727 1000
Fern Duncan
Alice Newlyn
About Inspecs Group plc
Inspecs is a Bath-based designer, manufacturer and distributor
of eyewear frames and optically advanced spectacle lenses. The
Group produces a broad range of frames and lenses, covering
optical, sunglasses and safety, which are either "Branded" (either
under licence or under the Group's own proprietary brands), or
"OEM" (including private label on behalf of retail customers and
un-branded).
In December 2020, Inspecs acquired Eschenbach Holdings, a
leading, global, eyewear supplier headquartered in Nürnberg,
Germany, which includes the American company Tura. The acquisition
extended the Group's presence internationally in key global
markets. This followed the acquisition of lens maker Norville in
July 2020, whereby Inspecs combined two heritage brands in British
optical, Savile Row frame maker, and Norville lens maker, further
enhancing its vertically integrated business model. As one of only
a few companies that can offer this one-stop-shop solution to
global retail chains, Inspecs is well positioned to continue to
take market share in the globally expanding eyewear market.
Inspecs customers include global optical and non-optical
retailers, global distributors and independent opticians, with its
distribution network covering over 80 countries.
Today Inspecs has operations across the globe: with offices in
the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau
and Shenzhen), and manufacturing facilities in Vietnam, China,
London and more recently, Italy. With the acquisition of Eschenbach
Holdings, the Group's international reach further extends
throughout Europe and Japan.
The Group's growth strategy going forward is to: (i) continue to
grow organically; (ii) undertake further acquisitions (and drive
value through leveraging the Group's internal capabilities); and
(iii) extend the Group's manufacturing capacity.
More information is available at: https://inspecs.com
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END
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April 29, 2021 02:00 ET (06:00 GMT)
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