Specsavers Resumes Dividend to Parent After Profit Surge

Specsavers International Healthcare Limited, the Guernsey-based parent controlled by founders Doug and Dame Mary Perkins, received a £12 million dividend after the optician group’s pre-tax profit rose to £429.7 million in the fiscal year ending February. The company also distributed almost £258 million to its network of independent shop owners, up from £239 million the previous year.

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Founded in 1983 by the Perkins family, Specsavers grew from a single store on Guernsey to operate nearly 3,000 optometry, audiology and ophthalmology outlets in at least eight countries, including more than 1,200 locations in the United Kingdom. The Perkinses’ combined wealth is estimated at £1.4 billion.

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• Sales increased 7 % to £4.3 billion.

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• Pre-tax profit grew by more than a quarter to £429.7 million.

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• The £12 million parent dividend marks a return after a pause in the prior year, when the company cited “economic and political uncertainty” and significant expansion costs.

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• In the two years before the pause, dividends of about £15 million were paid to the parent.

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The firm attributes profit growth to flat cost structures and the elimination of “non-value add activities,” while noting ongoing inflationary pressures on wages, utilities and supplier costs.

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“Importantly, this has been achieved while continuing to invest in the organisation’s long-term growth and their commitment to delivering value for customers.” — Specsavers

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