The growth came as the AIM-listed company attempts to establish itself as a global player in the jewellery retailing sector.
Theo Fennell has concessions in Dubai and Hong Kong already and will launch in Russia with partner Cosmos Zoloto later this month at the annual Millionaire Fair in Moscow.
Seymour Pierce analyst Richard Ratner expected Theo Fennell's interim results in November would be 'significantly improved'.
He said: 'This is an excellent update and demonstrates clearly that a luxury designer brand can buck the general retail trend, especially when it is in the process of turning itself into an international player.'
Ratner raised his interim profit forecast by£150,000 to£1.25 million for the year.