Jewellery retail group Aurum beat internal expectations over Christmas with like-for-like sales increasing 3.1% in the nine weeks to January 3.


The business, which owns Goldsmiths, Watches of Switzerland and Mappin & Webb, said its investment in customer service, improved stock levels and sales of higher margin items all helped improve net margin.

In November, Aurum - formerly backed by Baugur - agreed a £42m debt for equity swap with Icelandic bank Landsbanki and secured a seven-year £10m mezzanine loan to reduce short-term borrowings.