International store openings bolstered business for Graff Diamonds last year, reveals the latest accounts filed with Companies House.
During the year ending December 31 2017, turnover increased to £407m, while profit more than tripled to £47.8m.
While the London-based jewellery company saw sales slide by 9% in the UK to £23m, revenue from the rest of its global networked jumped by 24% to £384m.
During the financial year Graff Diamonds opened three branches in Asia, and its Paris and Macaua boutiques which opened two years ago continued to perform well, with the jeweller announcing plans to open another store in Paris this year.
Graff chairman, Laurence Graff, writes in the report: “”We have delivered good top and bottom line growth through investing in our inventory and store network to offer the most fabulous jewels in the world to our clients.
“Tight inventory control has allowed us to increase stock values including extraordinary large rough diamonds such as the 1,109-carat Lesedi La Rona. When these diamonds are cut and polished they will add to our unique offering and should generation healthy returns.
Alongside opening a new store in Paris this year, Graff will continue to roll out its programme of renovations.
Graff concludes: “We remain broadly optimistic about 2018 and will continue to invest in all areas of our business.”