Jewellery retailer Beaverbrooks posted record turnover for the year to February 2023 with an increase of 11.4 per cent to reach £225 million. Pre-tax profits fell though from the previous year’s £21.58m to £13.87m.
The family owned business had increased its headcount by 10 per cent during the year – it now stands at 1165 – and had also invested £14.5m in its IT infrastructure and stores. Staff received cost-of-living support, performance bonuses and pay rises. The business also made a £2.57m donation to charities, with Beaverbrooks chairman Mark Adlestone commenting: “As a family-owned business, enriching lives and making positive changes to the world is in our DNA and this is reflected in every decision we make as a company.”
Anna Blackburn, managing director, Beaverbrooks said: “We are so proud of our people who have worked hard to achieve such amazing success. Without their commitment to providing exceptional levels of customer service, we would not have been able to make the same level of investment into our people and estate that we did last year.”
The business says it has recorded a 3.1 per cent increase in its first half this year against a difficult backdrop and is continuing to invest in store refits, new openings, and its infrastructure.
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