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Specsavers’ global revenue up 6%

The multiple highlighted that it now has 816 UK practices in its annual review

21 Jul 2019 by Andrew McClean

Specsavers has revealed that global revenue increased by 6% in the 2018–2019 financial year to £2.7bn, including UK revenue of £1.47bn.

During the period, the multiple opened 60 new UK stores, including practices within Sainsbury’s supermarkets, taking its total to 816 branches in the UK with 49 domiciliary partnerships.

In its annual review, Specsavers highlighted that it has full-time audiology services in 191 of its optical practices, with audiology services in 813 UK optical stores at least one day a week.

Over the 12-month period, Specsavers sold 530m contact lenses, 21.6m frames and 400,000 hearing aids globally. It also donated over £2.5m to charities and global causes.

Chairman and co-founder of Specsavers, Doug Perkins, said: “We’re now a multi-category business with optics, home visits, contact lenses, audiology and broader eyecare services all playing a part in being recognised as a trusted healthcare brand.”

Mr Perkins highlighted that key to the multiple’s success is having “37,000 passionate and highly-skilled people as global partners, store teams, office and manufacturing and distribution colleagues” at the heart of everything it does.

“What our 38 million customers across the globe really remember is great human interactions: the special care and attention that our people provide every day,” he said.

New services

The review also notes that Specsavers increased its focus on enhanced optical services, with more than 570,000 customers across the UK accessing the service, which is a 37% increase on the previous year.

Specsavers reported that most patients using these services were treated for minor eye conditions, such as red eye, while others accessed services such as diabetic retinopathy screening.

The multiple highlighted a 22% increase in the number of commissioned enhanced optical services schemes through working with the NHS and local optical committees.

Specsavers also shared that its ophthalmology provider Newmedica has doubled the size of its business since partnering with the multiple and delivered services to over 120,000 patients in its clinics throughout 2018–2019.

Speaking about plans for the year ahead, co-founder of Specsavers, Dame Mary Perkins, said: “Developing our brand to reflect our growing healthcare position at the same time as representing our style and value credentials is an important step in making us fit for the future. The truth behind our purpose hasn’t changed since day one: we are here to make a positive difference to the lives of all.”

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