Inspecs experiences slow start to 2024

Inspecs Group has shared its final results for the year ended December 31 2023 with group revenue of £203.3m, which was up from £201m in 2022.

Gross profit was up 4.7% to £103.5, up from £98.9m in 2022, and adjusted underlying earnings before interest, taxes, depreciation and amortisation was up 16.1% to £18m.

Inspecs highlighted solid growth in revenue of £5.4m in its frames and optics division despite the loss of sales to GrandVision after its acquisition by EssilorLuxottica.

Its Norville lens manufacturing business continued to show month on month growth with significant new independent accounts and a new key account in place for 2024.