Inspecs: US tariff uncertainty impacting sales despite strengthened demand in Europe

Eyewear manufacturer Inspecs Group has said that uncertainty around US tariffs is impacting group sales, despite seeing strength from the European market. The insight was provided by Inspecs’ outgoing chair Robin Totterman, who offered the update during the company’s Annual General Meeting.

"The uncertainty surrounding US tariffs is impacting group sales, which as of the end of May were behind the prior year. However, demand in Europe has begun to strengthen, and projects with major retailers in the US and Canada are progressing well,” Totterman stated.

Despite the challenges, however, Inspecs said it remained focused on improving operational efficiency and cost-saving initiatives, “which are expected to accelerate in the second half, to mitigate these headwinds”. Among these projects is the strategic review of its lens business, Norville, which is expected to conclude by the end of June 2025.

As part of the announcement, Totterman reaffirmed his intention to step down as chair of the company, which he had founded in 1988, to instead become director following the closing of the meeting.

In a statement, the executive thanked “everyone who has been part of the journey”, adding that he would support the new chair once appointed to ensure a smooth transition. The group is continuing to “make good progress in its search for a new independent non-executive chair and a new chief financial officer”, with an update to come in due course.

Looking ahead, Inspecs is anticipating broadly flat revenue for the full year 2025, compared to the year prior. Its guidance on EBITDA remains unchanged.