Specsavers pays £12m dividend to parent company as profits soar
Summary
Specsavers paid £12 million in dividends to its parent company after its profits increased by over 25% to nearly £430 million in the year ending February. The company, which runs about 3,000 stores worldwide, saw sales grow 7% to £4.3 billion and resumed dividend payments after pausing them last year due to economic uncertainty and expansion.Key Facts
- Specsavers operates nearly 3,000 optometry, audiology, and ophthalmology stores in at least eight countries.
- The company paid nearly £258 million to shop owners, up from £239 million the previous year.
- Pre-tax profits rose to £429.7 million in the year ending February 2024.
- Sales increased by 7% to £4.3 billion during the same period.
- Dividends to the parent company controlled by founders Doug and Dame Mary Perkins resumed after being paused last year.
- The company faced inflation pressures on wages, utilities, and supplier costs but tried not to increase prices for customers.
- Specsavers is investing in its website to support customers who want to combine online and in-store shopping.
- The Perkins family founded Specsavers in 1983 and their combined fortune is now estimated at £1.4 billion.
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