Jeweller David M Robinson’s (DMR) annual financial statement has shown that it weathered the storm of the pandemic relatively well thanks to lower company spend and government support.
While turnover was down, profits were up for the business for the 12 months ending 31 March 2021.
With showrooms in Manchester, Liverpool, Altrincham and London’s Canary Wharf, DMR was founded over 50 years ago and now specialises in jewellery and high-end watches.
For the year to 31 March 2021 its profit after tax was just over £2.6 million, compared to £2.1 million in 2020.
Meanwhile, turnover was down by over £1 million, from £32.3 million in 2020 to £31 million in 2021.
The document also revealed that the DMR team has shrunk from 83 to 78 members, though its management and administration team has grown by one.
A statement from the directors in the financial report reads: “The company has seen a decrease in turnover of 4% for the year due to periods of closure due to the COVID-19 pandemic. Notwithstanding the closure periods, the company has continued to trade strongly in periods whilst open.
“Operating profit is up on [the] prior year due to continued strong trading combined with retail rates relief and no spend on events in the year due to COVID-19.
“The company continues to trade profitably post-year end and the year-end state of affairs is considered to be satisfactory.”