Inspecs reports strong first quarter
The eyewear manufacturer saw revenues increase by 18.5%
15 May 2022
Inspecs has reported a “strong” trading performance for the first quarter of 2022.
The eyewear designer, manufacturer and distributor saw revenues up $7.9m to $75.1m (£6.4m, £60.8m) in the first three months of the year, up to 31 March. This is compared to a revenue of $67.2m (£54.4m) in the first quarter of 2021.
Revenues increased by 18.5% at constant exchange rates.
The company suggested the results were achieved through the growth of its existing businesses, along with strong starts to the year made by the companies acquired in December 2021: the German eyewear distributor, BoDe Design, and the design and licensing company, Ego Eyewear.
The integrations of BoDe Design and Ego Eyewear are both progressing as planned, Inspecs added.
The results reflect expectations set out by the company earlier this year, that the trading outlook for 2022 “remains positive, with growth prospects underpinned by recent acquisitions and multiple opportunities to grow the business across the globe.”