Inspecs ended 2020 with revenues of $46.2 million, down from $61.2 million a year earlier despite two acquisitions. The performance was in line with the company’s expectations in a year when the Covid-19 pandemic and Brexit affected demand.
The British eyewear company bought the assets of The Norville Group on July 14 and Eschenbach Optik on Dec. 16. The businesses contributed revenues of $4.2 million and $3.1 million respectively.
The integration of Norville is completed and Eschenbach Optik’s is progressing to plan and “showing encouraging early signs”, according to Inspecs.
Last year was also marked by the listing of Inspecs on the AIM segment of the London Stock Exchange in February.
“Although the global pandemic continues, the group is in a strong position to capitalise on the compelling structural opportunities that exist in the fragmented global eyewear market,” said Robin Totterman, the company’s CEO.