Fylde coast jeweller has sparkling year

Anna Blackburn, cheif executive officer of Beaverbrooks
Anna Blackburn, cheif executive officer of Beaverbrooks
0
Have your say

Fylde coast’s Beaverbrooks the Jewellers is looking to increase investment in its stores in the coming year after posting record sales in its annual report.

In its accounts for the year ending February 27, the St Annes-based family firm said turnover had jumped five per cent from £113.6m to £119m.

It saw operating profits before distribution and tax rise from £14.3m to £15.2m a rise of seven per cent.

The firm, which has 69 stores and 920 employees, said trading conditions were competitive with many rivals cost-cutting but by focussing on quality items and service it had maintained gross profitability at 20 per cent.

Last year it had invested in a new website and was carrying out a programme of revamping stores.

In its statement it said it had invested in a programme of replacing lights with LEDs in stores which had achieved energy savings at those stores of 87 per cent.

It said: “The directors expect the general level of activity to increase in the forthcoming year. Investment in infrastructure is expected to be significantly higher than in 2016 as more of the retail stores are developed to ensure the best possible customer experience.

The company said it was maintaining its investment in developing its staff and its charitable giving. It said 33 per cent of its employees were involved in workplace giving, five times the national average, for which it won the government and Institute of Fundraising’s platinum award 2016.

It added that encourages community involvement through supporting two major events, the 10k family fun run on the Prom and the Beaverbrooks Bike Ride.

Anna Blackburn, chief executive officer at Beaverbrooks said: “We’ve recorded our highest level of operating profit in the past two financial years which we’re delighted with.

“And 2016 has seen us named in The Sunday Times 100 Best Companies to Work For for the 13th consecutive year and we’ve added two new stores to our estate – our 70th opening this Thursday in London’s Westfield Stratford City. We are looking forward to a busy Christmas trading period and are optimistic about the year ahead.”