National jewellery retailer Chisholm Hunter has reported an increase in turnover to £38.5m.
The company recorded a 5.28% improvement in revenue versus the £36.6m it posted the year before, according to accounts filed with Companies House this week for the year to 31 March 2019.
Operating profit increased from £1.8m in 2016 to £2m in 2019, while net profit fell from £1.4m to £1.3m over the same period.
Profit for the financial year before taxation ended on £1.8m.
According to the reported filed with Companies House, the directors are “satisfied” with the performance of the year and believe the company has sufficient resources to meet its debts as they fall due.
Chisholm Hunter director, Harry Brown, states: “The board believes the business is well placed and remains positive about long term growth prospects.
“The retail brands remain strong in the marketplace. The sales growth achieved in 2018/19 arose from existing stores. This is expected to continue in the immediate future. The company intends to continue the successful expansion of the geographical coverage of its store portfolio.”
During the financial year, Chisholm Hunter expanded its store network, notably investing £2.5m in Glasgow and Bluewater, which underlines the retailer’s ambition to grow both north and south of the border.
“Investment will continue in people, product and property to ensure that customers continue to be provided with an exceptional jewellery and watch buying experience,” Brown adds.