Despite an increase in sales and profit during its most recent financial year, Specsavers has decided to forgo the substantial dividend it typically awards to its billionaire owners.
In each of the last two financial years, the company has paid out £15m to founders Dame Mary Perkins and her husband Doug, as reported by .
During this period, Specsavers' turnover rose from £3.39bn to £3.98bn in its latest financial year ending 28 February, 2025.
However, pre-tax profit saw a decrease, falling from £449.5m to £339.3m over the same two reporting periods.
Specsavers does not release full group accounts for Specsavers International Healthcare Limited due to its Guernsey headquarters.
The only available results are those filed with Companies House, which cover the majority of its operations.
The company does produce an annual report with limited financial figures, stating that its group turnover totalled £4.18bn in the 12 months leading up to the end of February this year.
In addition to the º£½ÇÊÓƵ, Specsavers operates in the Republic of Ireland, Australia, New Zealand, Denmark, Finland, the Netherlands, Norway, Sweden and North America.
According to the accounts filed with Companies House, Specsavers increased its headcount in its latest financial year from 45,406 to 46,283.
Specsavers remains aware of 'potential headwinds'
A statement endorsed by the board declared: "The Specsavers executive board (SEB) has monitored the company's performance closely throughout the year and are delighted with the overall results and remain confident in the ongoing performance of Specsavers.
"The fundamental financial pillars across all our established operations remain robust throughout Europe, Australia and New Zealand and continue to provide the foundation for further investment across the broader group."
It continued: "The SEB are pleased with the continued growth of the business from a turnover and operating perspective.
"The SEB believe that this is a consequence of our commitment to continue to focus on offering all our customers high quality service and product at competitive prices that represent exceptional value.
"Whilst there has been a slight decline in our operating margin, given the wider macro-economic uncertainties that we face, as well as the continued inflationary pressures across all elements of the supply chain, the SEB view this as a positive outcome for the year.
"Our strong, financial performance means that the business remains well positioned to support our future growth ambitions and to deliver on our overall organisation purpose of changing lives through better sight and hearing."
Specsavers added: "The business is conscious that whilst our financial performance remains strong, there are potential headwinds that need to be factors in to our business plans.
"In particular, movements in foreign exchange rates and inflation will continue to present both challenge and opportunity and our regional plans are constantly being reviewed and updated to respond to changing market forces.
"The SEB continues to uphold its previous commitment to absorb inflationary price increases where possible, and to avoid passing increased costs on to our customers, enabling us to continue to support them through these challenging economic times."
Vision Express' profit surges as sales rise
Meanwhile, the most recent filings for Specsavers' competitor Vision Express have disclosed that the retailer's revenue and earnings both climbed substantially throughout its latest trading period.
Fresh documentation submitted to Companies House shows the business's revenue grew from £384.5m to £429.7m in 2024.
The figures also demonstrate its pre-tax earnings rose from £7.5m to £36.1m during the corresponding timeframe.
The earnings recorded in 2023 marked the first occasion Vision Express had returned to profitability since 2016.
The Nottinghamshire-based enterprise runs over 400 outlets nationwide and falls under the ownership of EssilorLuxottica.
EssilorLuxottica's portfolio encompasses Ray-Ban, Persol, Oliver Peoples, and Oakley.
In May, City AM disclosed that the proprietor of Ray-Ban had cautioned about its outlook for this year following declining º£½ÇÊÓƵ revenues and earnings in 2024. The º£½ÇÊÓƵ division of Luxottica Group has warned that rising costs for goods and services are anticipated to adversely affect its gross and operating margins this year.
The company further cautioned that the Chancellor Rachel Reeves' decision to raise employer's National Insurance contributions to 15 per cent in her Autumn Budget will "further put strain on an already high rate of labour cost inflation".
These concerns about future performance emerged alongside the publication of its 2024 º£½ÇÊÓƵ turnover figures, which fell to £165.8m from the previous year's £168.1m.
The group's pre-tax profit also declined over the 12-month period, dropping from £7.4m to £6.7m.
