Beaverbrooks has posted increased sales in its full-year results despite operating profits sliding thanks to a “significant investment”.
The British jeweller and retailer, which is celebrating its 100th anniversary this year, saw its sales jump 2.9 per cent to £127.4 million in the year to March 2, marking its fifth consecutive year of growth.
Operating profit reached £12.4 million, which was down from the previous year’s profit of £13.6 million.
This was a result of “significant investment in our people’s salaries, training, and new stock lines”.
“These results demonstrate that the combination of a sound strategy and continued investment in people, product and our presence on the high street can deliver sustained success,” Beaverbrooks managing director Anna Blackburn said.
“We have continued to invest in our people to ensure our customers have the best shopping experience at Beaverbrooks.”
Beaverbrooks chairman Mark Adlestone said: “We’ve just had the five most profitable years in our history. However, success at Beaverbrooks is not only measured in financial terms.
“As we celebrate our centenary in 2019, we are excited by what the future holds.”
Content from Retail Gazette
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