Turnover increase for luxury watch retailer

Growth | Latest News | Midlands | Retail
Aurum Holdings
Aurum Holdings has posted an increase in turnover

Aurum Holdings, owner of Mappin & Webb and Goldsmiths, has reported sales of £566 million, up 24.4% from the same period last year.

The Leicester-headquartered group was formed in 2007 and now has 165 stores, it also posted operating profit increase of 174.2% to £17.2 million for its year ending results.

A company statement said: “A significant proportion of the group’s sales and operating profit is generated over the Christmas period and any disruption over this period, for example due to bad weather or interruption to warehousing and replenishment systems, would be expected to have a material adverse effect on both sales and operating profit.

“The business has robust store systems and disaster recovery plans in place to mitigate any disruption.”

Elsewhere, gross margin slipped from 14.4% in the full year 2016 results to 12.4% in full year 2017, but total comprehensive income for the year improved from a loss of £22.6 million in 2016 to a loss of £4.6 million in 2017.

The accounting period pre-dates the acquisition of Mayors in the United States, which the group bought for $105 million in October 2017.

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