Aurum Holdings reports rise in sales
Jewellery group Aurum Holdings saw its like-for-like sales rise by 11% in the 25 weeks to 24 July. The owner of Mappin & Webb, Watches of Switzerland and Goldsmiths said online sales jumped by 24% following the launch of a click-and-collect service last year.
For the year to 30 January, Aurum’s EBITDA was up 53% to £16.1 million. Total sales were up 13% to £280.6 million and like-for-like sales rose 16.6%.
Aurum said the process to find a buyer for the business was on track following the group being put up for sale in April by failed Icelandic bank Landsbanki, which owns a 67% stake in the business.
Aurum Holdings chief executive Justin Stead said: “We are delighted with Aurum’s continued strong performance underlined by a significant increase in both sales and profit. Our commercial product and marketing strategies are well differentiated from our competitors and our relentless focus on the customer in all that we do is clearly resonating in the marketplace. We remain confident for another significant increase in sales and profit for 2011.”
He added: “Our commercial product and marketing strategies are well differentiated from our competitors and our relentless focus on the customer in all that we do is clearly resonating in the marketplace.”
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