The Specsavers chain has provided a dividend of £15m to its parent company in Guernsey, despite falling profits, as the retailer looked to control any potential price increases for customers amid the cost of living crisis.
The business paid an interim dividend of £15m to its parent company Specsavers Optical Group Limited. The ultimate parent company of the UK business is beneficially owned by the Perkinses.
According to the Times, accounts for Specsavers Optical Superstores, overseen by Dame Mary Perkins and her husband Doug as the ultimate controlling figures, reveal that a dividend was issued this year, following a lack of approved payouts in the previous year.
Specsavers’ turnover rose by 1.1% from £3.39bn to £3.42bn, while operating profit dropped by 39% from £453m to £326m for the year ended February 28, 2023, according to accounts filed at Companies House.
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The UK company said the fall in its profitability came as the business looked to ease inflationary pressures and limit price rises for its customers.
The accounts said: “It is essential that the business responds appropriately to the economic challenges that we are facing.
“The combination of continued inflationary pressures and economic uncertainty impacting our customers means that we are more mindful than ever of the difference we can make in our communities by offering best-value products and professional clinical care to everyone.”
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