Retailers

Aurum announces 53 per cent rise in profits

 

Operating profits rose to £18.3 million in the year to 29 January 2012, up from £12 million; like-for-like sales were up 10.2 per cent to £300.6 million; and online sales increased by 10.7 per cent. Such promising statistics are largely thanks to the launches of the Canadian Ice and Biba (pictured) brands, according to the company.

 

Aurum chairman Don McCarthy said: “I am extremely pleased with our performance over the year despite the difficult trading environment.”

 

Aurum claims to be the largest distributor in the world of luxury brands such as Omega, Tag Heuer and Gucci, and the UK’s largest distributor for Rolex, Cartier and Breitling, boasting around 150 stores nationwide. Mappin & Webb will launch a new store design in the summer as part of a “major renaissance.”

 

Chief executive Justin Stead said: “2011 has been a very exciting year for us and we are delighted with our brands’ performance. We don’t expect retail conditions to improve materially in 2012. However we remain confident that we are now in an even better position to continue to deliver growth in the future.”

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