Boodles profits dazzle

BOODLE & Dunthorne, the long-standing upmarket jeweller, has revealed double-digit hikes in sales and profits.

The family owned business, which has its origins in Liverpool despite moving its head office to London last year, saw profits in the year to the end of February rise 27% from £3.7m to £4.7m, while turnover climbed 13% to £41.8m.

Boodles has five stores in London, including concessions in Harrods, The Savoy Hotel and the Royal Exchange. Its flagship outlet is on New Bond Street, while in North West – where it has been trading since 1798 –  there are shops in Liverpool, Chester and Manchester.

Joint managing director Michael Wainwright said in his review of trading that the company’s designer products are finding favour with increasing numbers of international customers.

“During the year the company made sales to overseas clients around the world of £8.35m (2010 – £7.82m) which the directors feel illustrates an increased international interest in the brand.

“The directors consider the company to be well placed to take advantage of opportunities arising in the future.”

Mr Wainwright, who runs the business with his brother Nicholas, said the company’s balance sheet is ‘in a strong position’ with shareholders’ funds at the year end of £27.4m, up from £25.1m in 2010.

Boodles has just taken its first steps into international markets, opening a concession in Lane Crawford, the luxury specialty store in Hong Kong.

Last month the company’s charity Boxing Ball in London made headlines around the world, with society and showbiz guests including Pippa Middleton, Princesses Beatrice and Eugenie and former Spice Girl Geri Halliwell.

Michael and Nicholas Wainright are members of the sixth generation to have run the business. Their nephews, James Amos and Jody Wainright are also involved in senior roles.