AGM Statement

Inspecs Group plc, a leading designer, manufacturer, and distributor of eyewear (sunglasses, optical frames, lenses and low vision products) announces, in advance of its Annual General Meeting to be held later today, a trading update for the year ending 31 December 2024 ("FY24").

Following the record result for H1 23, which in part was due to elevated levels of ordering as retailers sought to secure their inventory positions post Covid, the Group anticipates revenue and EBITDA for H1 24 to be lower than the prior year, more in line with historic trading.

Later today, we will launch our first in house designed direct to consumer gaming eyewear range in London. The Group will benefit from extra capacity in the new facility in Vietnam in the second half of 2024.

We expect momentum to improve across the Group's markets and to benefit from increased distribution and ongoing operational efficiencies. As a result, Group guidance for the full year remains unchanged.