Inspecs says Q1 trading is "strong"

Eyewear specialist Inspecs issued a trading update on Thursday and said that trading in the three months to March 31 was buoyant.

The London stock exchange-listed company has been resilient in the face fo the pandemic and said it saw a “strong trading performance” at the start of this year. Q1 saw revenues of $67 million, although it didn’t give a comparison with the year-ago period. That’s perhaps unsurprising given how unusual the last year has been — making comparisons difficult — but also because the company only listed just over a year ago.

The company, which makes eyewear for a number of brands, including Superdry, Radley and O’Neill, among others, said this Q1 performance was achieved despite nationwide lockdowns in the UK, Germany and France and a variety of state lockdowns in the US.

And it added that while its first-quarter trading “marks a positive start to the year, the board remains cautious on 2021 as Covid-19 remains prevalent across the world”.

It also said the integration of Eschenbach Holdings (the German eyewear supplier it bought last year) “continues progressing to plan and the benefits of the enlarged group working together are starting to be realised, with a number of joint projects underway”.

Inspecs says Q1 trading is "strong"

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