Rox records lift in full-year sales and profits as own-label jewellery continues to shine

Rox UK Ltd has posted a growth in sales and operating profits for the financial year ending in March 2018.

According to the latest accounts filed with Companies House, the independent jewellery retailer posted sales of £14.8million, a rise of 7%.

Gross profit was maintained at 43%, whilst operating profit increased by 19% from £253,646 to £301,352.

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All stores experienced positive like for like sales growth during this period, except for Aberdeen, which the directors say continues to be impacted by a general downturn in trade in the region, although the drop in turnover was less than the previous year.

Despite another year of decline the company says the Aberdeen store still continues to make a positive contribution to the business and the directors are committed to support a shop in that region for the foreseeable future.

Online showed modest growth and accounted for 10% of turnover.

In a statement accompanying the accounts, Rox’s co-founder and director Kyron Keogh said all product categories experienced positive like for like sales growth in the year.

Like for like sales of Rox own-label jewellery, engagement rings, and wedding rings increased as investment in unique designs and superior craftsmanship showed improved returns.

Investment continued to be made during the year to provide customers with an extra-ordinary shopping experience within a luxury environment.

The company invested in both the stores and online, and reveals plans in the report to open another boutique in 2019.

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