Inspecs warns on FY earnings following weaker-than-expected Q4 trading
By Iain Gilbert
Date: Monday 09 Dec 2024
(Sharecast News) - Eyewear manufacturer Inspecs warned on Monday that full-year revenue and underlying earnings were now seen lower than previous expectations as a result of weaker-than-anticipated Q4 sales.
Inspecs said it has seen year-on-year growth in H2 thus far, pointing to "overall positive momentum" despite Q4 sales improvement falling short of initial forecasts.
However, due to the "slower recovery" in European markets and the deferral of orders for some of its larger customers into 2025, Inspecs now expects to report FY revenues of roughly £197.0m and underlying EBITDA in the range of £17.4m to £17.9m.
Inspecs added that its new manufacturing facility in Vietnam has now been completed, and it anticipates stepping up production to meet demand through 2025.
As of 0945 GMT, Inspecs shares had slumped 13.40% to 42.0p.
Reporting by Iain Gilbert at Sharecast.com
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