Inspecs strong sales continue into Q3, cautious on supply issues
Stock exchange-listed eyewear business Inspecs Group said on Thursday that its sales were strong in Q3, continuing on from an equally strong first-half performance.
The UK-based eyewear designer, manufacturer and distributor issued a very brief trading update and reported unaudited revenues for the nine months to 30 September up to $185 million (it reports its results in dollars), adding nicely to the $125.7 million achieved in the first six months of the fiscal year to 30 June.
Those latest results shine brightly compared to the pandemic-hit period in 2020 when the company recorded just $16.7 million in first-half sales.
However, there was no earnings update, although underlying EBITDA had risen in 2020’s H1 to $17.7 million from $0.7 million in H1 2019 and its reported pre-tax loss was cut to $2.6m from $8.3m.
And the Q4 outlook for the company that holds licences for a host of fashion brands including Superdry, Ted Baker, Radley London and O’Neill? Inspecs said it remains cautious about headwinds as Covid-19 continues to impact the global supply chain.
But it added that “the group remains confident in its full-year outlook" and notes the 2022 order book is "in line with management's expectations”.
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