Revenues hit £159m at Wiltshire eyewear firm

Eyewear manufacturer Inspecs say revenues increased to almost £160m in the last nine months.

The Wiltshire business said trading was in line with performance in a statement to the Stock Market.

The group said it had delivered a solid trading performance in the period, in line with its expectations.

Revenue increased by 4.6 per cent to £159.1m  in the nine months  to the end of September.

The group said it delivered strong cash generation in the period and, as a result, net debt (excluding leases) decreased by £6.4m to £21.2m.

During the three-month period from July to  September 2023, the group invested a further £800,000 in construction of its new manufacturing facility in Vietnam and reduced net debt (excluding leases) by £1.5m.

Chief executive Richard Peck: “All of the group’s major markets are performing as we expected. Construction of our new manufacturing facility in Vietnam is progressing well with completion expected in the first half of the year.

“Our focus on improving the group’s operational efficiencies continues and, notwithstanding the ongoing macroeconomic uncertainties, with our current order book the board remains confident of delivering full year results in line with market expectations.”