Specsavers has resumed dividend payments to its parent company after profits surged by more than a quarter during its latest financial year.
The company paid a £12m dividend to Specsavers International Healthcare Limited, which is controlled by founders Doug and Dame Mary Perkins, after pre-tax profit climbed to £429.7m in the year to February.
Sales at the retailer rose seven per cent to £4.3bn despite what it described as a challenging macroeconomic environment.
The payout marks a return to dividends after Specsavers paused them in the previous financial year because of economic and political uncertainty and its own significant investment and expansion plans.
The business had paid dividends of around £15m in each of the two years before the pause.
A Specsavers spokesperson said: “The resumption of dividend payments at a level in line with historic amounts reflects the strength of the business and confidence in its future performance.”
The company said the payment had been made while it continued investing in long-term growth and maintaining its focus on value for customers.
Specsavers partners share £258m payout
Specsavers also distributed almost £258m to its hundreds of independent store partners during the year, up from £239m the previous year.
The retailer operates close to 3,000 optometry, audiology and ophthalmology businesses across at least eight countries, more than 1,200 of which are in the UK.
Specsavers said its stronger profitability reflected efforts to keep costs flat and cut “non-value add activities”, as it grappled with inflation across wages, utilities and supplier costs.
The retailer said it was seeking to absorb inflationary increases where possible rather than passing higher costs on to shoppers.
The group is also continuing to invest in its digital proposition as customers increasingly combine visits to its physical stores with online interactions.
Specsavers said its regional plans were being continually reviewed as it navigates changing market conditions and growing regulatory pressures.
Doug and Dame Mary Perkins founded Specsavers in Guernsey in 1983, opening their first stores the following year.
The couple remain behind the privately owned business, with their combined wealth estimated at £1.4bn by the Sunday Times Rich List.
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