Clogau Gold has posted sales of £21.7m for the year to 30 September 2023, which was down from the prior year’s £22.9m. Pre-tax profits had also slipped to £2.8m from the previous year’s £5m.
In a statement from its board, the business said: “Broadly speaking, the six per cent decline is a general trend across all sales channels, reflecting the Bank of England’s policy to stabilise inflation through interest rates designed to curb consumer spending.
“By the year that ended 30 September 2024, we will have opened a store in Merthyr Tydfil, replaced our ERP system, and taken the management of clogauoutlet.co.uk in-house.
“These initiatives underpin our commitment to delivering a seamless omnichannel solution, putting the customer at the heart of the journey, enhancing the customer experience, and optimising stock levels for them.”
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