admin Eyewear manufacturer Inspecs Group plc reported a first half revenue increase of 6 percent to 111.1 million pounds. On a constant currency basis, revenue increased by 2.3 percent to 107.2 million pounds.
Commenting on the company’s first half performance, Richard Peck, chief executive officer of Inspecs Group plc, said: “I am pleased that the positive momentum that we experienced in Q1 continued into Q2 and that all of the group’s major markets have performed consistently in H1 2023.”
“As a result of this performance in the first half of the year, notwithstanding the ongoing macroeconomic uncertainties, the board remains confident in delivering full year results in line with market expectations,” Peck added.
The company said in a release that Inspecs delivered strong cash generation and as a result, net debt decreased by 5 million pounds to 22.6 million pounds.
During the period, the group invested 0.9 million pounds on construction of a new manufacturing facility in Vietnam and paid a further 2.2 million pounds of deferred and contingent consideration relating to the EGO and BoDe acquisitions.
