Laings has been named one of the fastest-growing UK companies in terms of profits by The Sunday Times.
The luxury jeweller, which has stores in Glasgow, Edinburgh, Southampton and Cardiff, features in the 21st annual Sunday Times Profit Track as one of Britain’s private companies with the fastest-growing profits over the last three years.
The company ranks at number 55 on the national Profit Track, following profits increasing from £1.1m in 2016 to £4.1m last year following the 2017 acquisition of Laing the Jeweller, split from the rest of the business 12 years earlier.
The business says it is delighted to be recognised after its first full year trading under a single identity and as one national brand.
CEO of Laings, Joe Walsh, notes: “I am delighted that the Sunday Times Profit Track has recognised our business and the growth and journey that we have been on for the past three years. We have brought all companies under one brand, consolidated and streamlined the watch and jewellery offering while continuing to invest in both people and infrastructure. Delivering such strong growth during the restructuring process is a testament to our team.
“The current economic environment has tested all businesses, large and small. I’m proud of the team we have here at Laings, and we have worked tirelessly to establish an excellent grounding and feel prepared to weather whatever we may face.”
The family business hopes to navigate through these testing times, allowing them to focus on future investments. The company plan to enhance their service department, building on their current offering of repairs and bespoke design, while also expanding their existing retail locations all under the one brand – Laings.
The Sunday Times Profit Track 100 league table ranks Britain’s 100 private companies with the fastest-growing profits over their latest three years. It is compiled by Fast Track and published as a supplement in The Sunday Times each April, with a national awards event in October and alumni dinners throughout the year.