Chisholm Hunter has revealed that its profit before tax dropped from £5.35m to £2.63m for the year ended 31 March 2024.
The group’s turnover also slightly dipped from £57.91m to £57.884m in the face of a competitive marketplace.
Its gross profit also fell from £10.38m to £9.95m.
However, looking ahead, it said that it enters 2025 with confidence in the outlook for the business as it continues with its considered and sustainable expansion plan.
The jewellery brand currently has plans underway with the opening of two additional flagship boutiques in the UK.
During the period, the number of stores remained stable at 27 with stores located at Princess Street in Edinburgh and Bluewater and Bromley and Kingston in London. The flagship boutique in Glasgow is located on Buchanan Street, which has the second busiest retail footfall in the UK, after London’s Oxford Street.
Additionally, the online retail business continued to deliver significant growth during the year and further investment is planned to be able to offer clients an alternative to purchase in store, particularly due to its “strong store positioning” across the UK for click and collect.
Lastly, the company continues to invest in its staff and the longest serving employees have been in the business for over 30 years.
