Ahead of Pandora’s announcement of its 2015 financial results, the Danish giant had already issued forward guidance to investors to expect global sales growth of 40% to a staggering £1.67 billion. And its president for Western Europe, Peter Andersen, had the relaxed look of a man who had hit his forecast when Professional Jeweller’s editor-in-chief Rob…
Pandora chairman Allan Leighton bagged £5 million in 2015 despite stepping down in March
Allan Leighton, the UK-based former chairman of Pandora earned close to £5 million last year, despite stepping down from the role just in March, 2015, after less than 2 years with the company. In financial results for the 2015 financial year released today, the earnings of the Danish jewellery giants board of directors are disclosed.…
Pandora UK sales surge by over 50% in 2015
Pandora sales in the UK surged by over 50% in 2015 to DKK 2.248 billion (£259.3 million). Worldwide group revenue in 2015 was DKK 16.7 billion (£1.74 billion), an increase of 40.2% or 28.9% in local currency. Forward guidance for the Danish jewellery suggests growth next year will slow to around half the rate of…
Pandora increases revenue in Q3 financial report
Pandora has announced its Q3 2015 financial results today (Nov 10) with revenue increased by 37.5% driven by all geographic regions. Group revenue in the third quarter of 2015 was DKK 3,911 million (£372,933,156), an increase of 37.5% or 28.0% in local currency, compared with Q3 2014. The Asia Pacific region increased the most (74.8%),…
Blue Nile net sales rise to £72m in Q3 2015
Online diamond jewellery retailer Blue Nile has released its financial results for its third quarter ended October 4 2015, citing a 4.0% increase in net sales to $109.9 million (£72.1m). Operating income for the quarter totalled $3.0 million (£1.9m), representing an operating margin of 2.8% of net sales, compared to $2.6 million (£1.7m) in operating…
Petra Diamonds net profit plummets 33% in “challenging” FY2015
Petra Diamonds Limited has announced its preliminary results for the year ended June 30 2015, citing a 10% drop in revenue to US$425.0 million (£392.7m) after a “challenging” 12 months. As a result, the company’s adjusted EBITDA was down 26% to US$139.3 million (£121.5m) and net profit after tax was also down by 33% to…
Plunging diamond prices put Gem Diamonds profits under pressure
Gem Diamonds says that the exceptional quality and size of diamonds discovered at its Letšeng mine is helping it maintain profits despite the current challenging conditions in the diamond market. The Letšeng mine in Lesotho has produced the world’s highest percentage of large diamonds, above 10 carats, giving it the highest dollar value per carat…
H&T Group profits jump 30% in H1 2015 as secondhand retail operation holds steady
H&T Pawnbrokers has seen its revenue rise in the first six months of 2015, with profits up 30% before tax and retail sales up 1.5%. Profits before tax are up 30% to £2.6 million, while net debt has fallen by 34% to £8.9m. However, the Group’s pledge book decreased by 2.9% to £37.4m in the…
Concept stores drive continuing growth for Pandora in the UK
Pandora’s rings now account for 19% of turnover in the UK, thanks largely to continuing growth of concept stores where customers can be transitioned from charms to other lines from the Danish jewellery giant. The company has opened 169 concept stores in the UK over the past five years. 13 have opened since the start…
Petra Diamonds secures 3.2m carats in FY 2015 despite production challenges
Petra Diamonds Limited saw its production rise 2% to 3.2 million carats in the year ended June 30 2015, with production also expected to rise in the full year 2016. The company is now on track to meet its target of five million carats per anum by full year 2019. The company, which is in…
