British eyewear designer and lens manufacturer Inspecs has maintained the strong financial results posted since the company was listed on the London Stock Exchange’s AIM division in February 2020.
Revenue rose sharply to $125.7m from $16.7m and the company posted a pre-tax loss of $2.6m, compared with a loss of $8.3m a year earlier. Inspecs attributed the narrowed loss to non-underlying costs totalling $1.2m and a foreign-exchange loss on borrowings of $3.6m.
Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA), the metric that strips out exceptional and other one-off items like inventory relating to last year’s acquisition of Eschenbach, also saw a notable increase. It climbed to $17.7 million from $677,000 in the same period last year.
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