Multiple fashion retailer Argento Contemporary Jewellery has reported a rise in operating profit to £1.76m in the year ended 30 June 2017.
In accounts filed by Companies House this week, Argento recorded a 3.5% increase in operating profit – increasing from £1.70m in 2016.
The document also shows turnover for the financial year increased from £18.4m in 2016 to £19.2m in 2017.
The gross profit margin remained fairly consistent at 54.63% in 2017, compared to 55.48% in the previous year.
Looking ahead to next financial year, the directors recognises the risks to the UK economic growth remain significant, and will be aiming to expand the company’s services and customer base to secure another profitable year.
Argento director, Peter Boyle, says in the report: “Although the growth in the UK economy strengthened during 2017, the risks to UK economic growth remain significant. The company’s strategy is to further enhance its position within the UK retail jewellery market by offering a unique customer experience driving customer loyalty.”
“The company’s success is dependent on understanding and meeting the needs of customers and responding to key trends and preferences,” Boyle adds.
During the financial year, Argento reported a spike in online sales, and opened the doors to its first store in Peterborough.