Fylde coast jeweller's sparkling four years of results

A Fylde coast jeweller has kept its glittering streak going with its latest financial report, having enjoyed its four most profitable years in its history.

Tuesday, 20th November 2018, 9:05 am
Updated Tuesday, 20th November 2018, 10:09 am
Beaverbrooks the jeweller's managing director Anna Blackburn and chairman Mark Adlestone
Beaverbrooks the jeweller's managing director Anna Blackburn and chairman Mark Adlestone

Operating profit before discretionary payments at Beaverbrooks the Jewellers increased by £1.4m to £13.7m during the 53 weeks ended March 3, 2018.

The company’s annual report also shows annual turnover also increased by 6.2 per cent from £119.2m to £126.5m.

It said that despite competitive trading conditions during this 53-week period, profit margins were maintained with gross profit of £21.9m.

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The 99-year-old family owned company attributed the success to remaining focused on quality diamonds, watches and jewellery, and aiming to offer excellent customer service.

Beaverbrooks also continued with its programme of investment during the year. This included the continuing refurbishment of key shops and development of its website. The company also continued to invest in its people with specific product training and further performance-linked bonus structures being implemented.

Mark Adlestone, chairman of Beaverbrooks, said: “We’ve just had the four most profitable years in our history which we’re delighted with.

“However, success at Beaverbrooks is not only measured in financial terms.

“A strong commitment to the learning and development of all our people, an open and honest company culture and commitment to the wider community in which we work, are all borne out in the many accolades awarded to the company during this period.”

As part of its mission to ‘enrich lives,’ the company donates 20 per cent of retained profits to charity and has this year donated £1.1m to charity.

Since the year 2000, Beaverbrooks has donated in excess of £12m to over 700 charities.

Beaverbrooks is the UK’s second biggest supporter of Payroll Giving on the high street.

Of its staff, 45 per cent take part in Payroll Giving, for which it won the first ever Diamond Quality Award in 2018 from the government.