Inspecs Group, a global eyewear and lens design house and manufacturer, reported its 2024 unaudited interim results for the six months ended June 30, 2024, showing that group revenue in the first half of 2024 was below last year, decreasing by 7.3 percent to £103 million compared with £111 million in the first half of 2023. The company attributed this to a one-off elevated level of sales in Q1 2023. On a constant exchange rate basis, revenue decreased by 5.2 percent to £105.4 million compared with £111.2 million in the first half of 2023. Gross profit margin significantly increased by 100 basis points to 52.4 percent, compared with 51.4 percent in the first half of 2023. Inspecs Group Ceo Richard Peck said: “The Group has made steady progress during the period, with significantly improved gross profit margins delivered across all divisions and strong cash generation. We have achieved sustainable cost savings through the ongoing implementation of operational efficiencies, particularly in the U.S., and we will continue to undertake further initiatives during the second half.”

October 2024