Turnover at Fraser Hart Limited increased by 5.72% to £80.8 million in its financial year ending June 2017.
The national jewellery retailer, which celebrated its 80th anniversary last Christmas, now has 40 showrooms across the UK trading as Fraser Hart and a further 14 stores in Ireland under the Fields fascia.
According to accounts filed with Companies House, operating profit increased from £3.5m to £4.6m.
Overall, the jeweller’s profits for the financial year soared from £935,000 in 2016, to £1.7m in 2017.
According to the reported the Board is “reasonably satisfied” with the performance in the year and remains positive about the longer term growth prospects.
Looking ahead the report says the company will continue its pursuit of market share and growth through an upgrade of existing stores, and offering high quality product, competitive pricing and exceptional service to its retail customers.
Talking to Professional Jeweller, Fraser Hart’s retail director, Richard Parsons, revealed the transformed Brent Cross boutique has already resulted in an increase in jewellery sales, and has bolsted business even more than the company expected.
The next store to be updated will be the retailer’s Stratford showroom.
Throughout 2018 the company told Professional Jeweller it will also be focusing on omnichannel, making sure the customer experience is streamlined and exceptional throughout every retail platform.
Read all about the retailer’s new store format and plans for growth in the April issue of Professional Jeweller.