Key facts
- Specsavers paid a £12 million dividend to its parent company, Specsavers International Healthcare Limited.
- Pre-tax profits for the year ending February reached £429.7 million.
- Sales increased by 7% to £4.3 billion.
- Nearly £258 million was distributed to independent shop owners.
- The company aims to absorb inflationary price increases to avoid passing costs to customers.
Specsavers has resumed dividend payments to its parent company, Specsavers International Healthcare Limited, controlled by founders Doug and Dame Mary Perkins, following a significant increase in profits and sales. The optometry and audiology group paid out £12 million to its parent, a move that had been paused in the previous year due to economic uncertainty and investment.
Pre-tax profits soared to £429.7 million in the year to February, while sales rose 7% to £4.3 billion. The company also distributed nearly £258 million to its independent shop owners globally, an increase from £239 million in the prior year. A spokesperson stated that the resumption of dividends reflects the business's strength and confidence in future performance, while continuing to invest in long-term growth and customer value.
Specsavers attributed the sales increase to attracting customers despite a challenging macroeconomic landscape. Profits were boosted by efforts to keep costs flat and reduce non-essential activities. The company acknowledged that inflation presents ongoing challenges and opportunities, and its regional plans are continuously reviewed. Specsavers aims to absorb inflationary price increases where possible to avoid passing costs onto customers, facing pressures from wages, utilities, and suppliers, alongside increasing regulatory demands. The group is also investing in its website to enhance online and in-store customer interactions.
Founded in 1983 by Doug and Mary Perkins, who are now in their 80s, Specsavers began at their family dining table in Guernsey. The business opened its first stores in Guernsey and the UK the following year. The Perkins' combined fortune is estimated at £1.4 billion.