Updates

Inspecs - Large US business wins enhance H2

October 2024

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.

With construction of the Vietnam facility complete (one of the world’s largest spectacle frame factories with 12m frames p.a.), debt paydown has begun to accelerate. Despite shelling out £1.8m on fit-out and £1.9m on earnouts, net debt dropped by £4.4m to £19.8m in the six months to end June. Capex has now ended and with just £1.2m of earnout to pay in October, accelerated deleveraging is on the way. But better than that, as of 31 August, H2 trading has exceeded the prior year’s figures, with order books currently 7% ahead. H1 numbers are largely of academic interest. Sales eased from elevated levels, decreasing by 7% to £103m in H1 (5% at constant exchange rates), but EBITDA, aided by cost reductions, fell to £10.1m. Chief execut ...

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Watches of Switzerland

Brave Bison

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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