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Sparkling: Aurum is the jeweller in the crown
The owner of jewellery businesses including Goldsmiths and Mappin & Webb has defied lacklustre conditions to unveil a 53 per cent hike in profits.
Aurum Holdings said the launch of exclusive brands such as Canadian Ice and Biba boosted Goldsmiths, while its Watches of Switzerland division benefited from the launch of its new transactional website. The group’s operating profits rose to £18.3 million in the year to 29 January, from £12m, while like-for-like sales were up 10.2 per cent to £300.6m.
Aurum, which has some 150 stores in the UK and Ireland, said it continued to mull potential new owners for the business after advisers were hired to oversee the sale of the London-based company last year. It is controlled by the resolution committee of failed Icelandic bank Landsbanki.
Aurum claims to be the largest distributor in the world of luxury brands such as Gucci, Omega and Tag Heuer, as well as the UK’s largest distributor for Breitling, Cartier and Rolex.
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