Glasses manufacturer Inspecs Group has issued a profit warning after its clear vision of a good fourth quarter failed to materialise.<\/p>\n
In September the Wiltshire group said it was “confident in meeting market expectations for the full year”, but has been forced to backtrack today.<\/p>\n
Inspecs has told shareholders that the improvement in Q4 sales has not been as strong as anticipated.<\/p>\n
Revenues for 2024 are expected to be \u00a3197m – compared to \u00a3203.3m last year, with underlying earnings also now forecast to be lower than last year, between \u00a317.4m-\u00a317.9m.<\/p>\n
It blamed “the slower recovery in our European markets and the deferral of orders for some of the Group’s larger customers”.<\/p>\n
The group designs, manufactures and distributes a range of products including sunglasses, optical frames, lenses and low vision products.<\/p>\n
It has still seen year-on-year growth in the second half, but not enough to make up for a difficult first half. Inspecs’ new manufacturing facility in Vietnam has now been completed, and it anticipates “stepping up production to meet demand through 2025”.<\/p>\n","protected":false},"excerpt":{"rendered":"
Glasses manufacturer had been reliant on a stronger second half of the year<\/p>\n","protected":false},"author":18,"featured_media":7014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120781],"coauthors":[81],"class_list":["post-17951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-top-story","tag-wiltshire"],"yoast_head":"\n