Baugur-owned jewellery retail group Aurum has revealed an increase in like-for-like sales and profits during its first quarter.
Like-for-like sales at the group – which is the parent of retailers Goldsmiths, Mappin & Webb and Watches of Switzerland – increased 10.7 per cent in the first quarter of the year.
Aurum said sales rose in conjunction with a “significant improvement” in profits against the previous year.
Aurum chief executive Justin Stead said: “The efforts of the business – based on our new direction and strategic plan – are gaining momentum and we can see the plan taking effect and being realised through the increase in sales and profits. Although the outlook remains cautious, we are pleased with the first quarter growth of the business.”
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