Designer eyewear firm Inspecs has said it remains “confident” about its future growth following a tough trading year for the Bath-based firm. In a full-year trading update, the AIM-listed company reported a drop in revenues from $246.3m in 2021 to $233.4m for the year ending December 31, 2022. The business said on Thursday (January 26) the results were in line with revised expectations.
There was some positive news for the company, however. It said on a constant exchange rate basis, revenue rose by $23.5m from $246.5m to $270.0m - an increase of 9.5%.
The group also said production in China increased last year despite Covid-19 restrictions in the country. In Asia, Inspecs’ factories maintained production throughout most of 2022, despite both supply chain and pandemic lockdowns.
