Primary Recommendations

Inspecs - Healthy signs for Inspecs

March 2025

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Signs of reviving interest in healthcare shares could be good news for Inspecs, which designs, manufactures and distributes spectacle frames, sunglasses, lenses and low-vision aids to a global customer base. The company was a growth star of the early 2020s but has recently faced hard times with the shares plummeting to 46.5p from a 2022 peak above 400p. The next set of figures for the year to end December (due to be reported 10 April) should mark the bottom and the company has already reported a strong uptick in orders and margins. When Inspecs went public in 2020, its EBITDA was just £3.5m, and the oversubscribed IPO valued the company at 11x its EV/EBITDA. Inspecs had debt at the time that is not a million miles away from ...

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Market Comment - March '25

Naked Wines - Net cash of c40p a share (presentation 27 March)

Inspecs (February 2025)

Inspecs - Large US business wins enhance H2 (October 2024)

Inspecs - Pretax profit guided to grow 22% to £9.9m (July 2024)

Inspecs - Q1 signals the corner is turned (May 2024)

Inspecs (February 2024)

Inspecs - Margins enhanced by moving Eschenbach acetate manufacture to Vietnam (January 2024)

Inspecs (October 2023)

Inspecs (August 2023)

Inspecs - EBITDA forecast to jump US$6m this year (July 2023)

Inspecs (May 2023)

Inspecs (February 2023)

Inspecs - Interesting new issue (March 2020)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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