BUSINESS: Financial Inspecs Group Reports Rise in Q1 Revenues By Staff Friday, April 29, 2022 12:24 AM BATH, England—Inspecs Group plc (LSE: SPEC), a leading designer, manufacturer and distributor of eyewear (sunglasses, optical frames and lenses) announced this week the Group's trading update for the three months ending March 31, 2022. The Group said it delivered a strong performance in the first quarter with revenues up $7.9 million compared to the prior year first quarter, reaching $75.1 million (2021 Q1: $67.2 million). Revenues increased by 18.5 percent at constant exchange rates. The company said the performance was achieved through both organic growth of existing entities, alongside strong starts to the year by the acquisitions made in December 2021. The integration of BoDe Design GmbH and EGO Eyewear continues to progress to plan, the company said, adding, "We look forward to providing a more detailed update on progress at the Group's final results on May 19, 2022. Inspecs Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are branded (either under licence or under the Group's own proprietary brands), or OEM (including private label on behalf of retail customers and un-branded). The Group has completed a number of significant acquisitions since its IPO in February 2020, as VMAIL has previously reported. In December 2020, Inspecs acquired Eschenbach, a leading, global, eyewear supplier headquartered in Nuremberg, Germany, which includes the American company Tura. This followed the acquisition of lens maker Norville in July 2020, whereby Inspecs combined two heritage brands in British optical, Savile Row frame maker, and Norville lens maker, further enhancing its vertically integrated business model. In December 2021, the Group acquired Ego Eyewear, a design and licensing company which uses third-party eyewear manufacturers to produce premium fashion brands, and BoDe, a distributor of optical and sunglasses frames principally to the German market. Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 75,000 points of sale.