Take a look at

INSPECS

INSPECS is a relative newcomer to the stock market, joining AIM in February 2020, just weeks before the UK went into lockdown. But the company was established back in the 1980s, when long-sighted founder Robin Totterman could not find a pair of glasses he liked.

Today, Inspecs designs and makes millions of frames and lenses, and sells them to more than 70,000 opticians and retailers around the world, from individual shops in local high streets to large chains such as Specsavers over here, Walmart in America, and Asos online. Spectacles are made under well-known fashion brands, including Superdry, Marc O’Polo and Lulu Guinness, but Inspecs has several of its own labels too, such as Botaniq, whose models are made from biodegradable and recycled materials.

Totterman has done well since bringing his business to market. He has made some clever acquisitions, invested in a state-of-the-art lensmaking facility in Gloucestershire, expanded overseas and developed an ecommerce site as well.

Results for 2021 will be announced

soon and brokers forecast profits of more than $19.5million (£15million), rising to nearly $25million in the current year.

A maiden dividend of 1 cent (0.75p) should accompany the 2021 figures, with 2.5 cents pencilled in for this year and 4 cents for 2023. Even though the company reports in dollars, dividends will be paid in pounds and pence to UK shareholders.

The Bath-based group has twice won the Queen’s Award for Enterprise and, encouragingly, it is chaired by Lord Ian MacLaurin, who is credited with turning Tesco into the UK’s largest retailer in the 1980s and 90s.

MIDAS VERDICT: More than 4 billion people across the world need glasses, numbers are growing all the time and opticians recommend that everyone wears shades when the sun is shining. Inspecs is one of the only companies that designs, makes and sells glasses, from luxury models to cheap and cheerful readers. At £3.30, the shares should go far. Buy and keep.

Traded on: AIM Ticker: SPEC

Contact: inspecs.com or 01225 717000