National jewellery retailer Warren James has reported an modest increase in turnover to £117.9m.
The company recorded a 0.5% improvement in revenue versus the £117.2m it posted the year before, according to accounts filed with Companies House this week for the year to 31 March 2018.
Operating profit slipped slightly from £42.5m in 2017 to £40.3m in 2018, while net profit fell from £33.8m to £32.2m over the same period.
In the report, managing director, John Coulter, who founded the company in 1979, says trading conditions on the high street were “challenging”, but Warren James’ “unique and unrivaled retail offer of stunning jewellery at outstanding prices” has continued to grow in popularity.
In the financial year Warren James continued to invest in staff, which the company attributes to its success.
Looking ahead, the directors will closely be monitoring the uncertainty of the movement in precious metals and currency fluctuations, together with risk of the loss of suppliers as a result of the current economic climate.