Inspecs Group plc (LSE:SPEC) reported first-half 2026 revenue of £99.1 million, alongside a 13.1% increase in underlying EBITDA as gross margin improved and operating expenses declined.
Diluted underlying earnings per share increased by 46% during the period. The eyewear group also reduced net working capital, while net debt excluding leases fell to £18.7 million.
Inspecs said it remained within its banking covenants at the end of the period.
During the first half, the company completed a £7.4 million strategic investment from Qualcomm and continued cost-reduction and integration measures across its European and UK operations.
The group also substantially wound down its Norville business. Manufacturing revenue increased by approximately one-third during the period.
Inspecs reported challenging trading conditions in the US frames market and the German low vision market. The company also cited growth in Eschenbach eyewear, improvements in manufacturing and cost savings among factors affecting its operations.
The group maintained its medium-term objectives of delivering organic revenue growth above its markets, achieving double-digit EBITDA margins and reducing leverage.
More about Inspecs Group plc
Inspecs Group plc designs, manufactures and distributes eyewear, including optical frames, sunglasses, safety eyewear and low vision products.
The company operates manufacturing facilities in Asia and Europe and supplies branded and original equipment manufacturer products to customers in more than 80 countries and approximately 75,000 points of sale.
Its stated strategy includes expanding its proprietary brands and distribution network, developing new eyewear products through research and development, and improving manufacturing capacity and operating efficiency across its UK, European, US and Asian businesses.
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