Export sales surge add sparkle to Boodles
BOODLES, the premium North West jeweller which traces its roots back to 1798, has reported a 30% surge in annual profits and revealed export sales had climbed 40% to £11.6m.
The business, which is owned and managed by brothers Michael and Nicholas Wainwright, has shops in Liverpool – where it was originally founded – Manchester, Chester, Dublin. It also trades in a number of locations in London’s West End, including at a flagship store on New Bond Street and concessions in The Savoy and in Harrods.
In a trading review the Wainwrights said: “The directors consider the company to be well-placed to take advantage of opportunities arising in the future.”
They said the hike in overseas sales “illustrate increased international interest in the brand.”
Accounts for Boodle & Dunthorne for the year to the end of February this year show turnover rising 15% from £41.8m to £48.1m and profits by 30%, from £4.7m to £6.1m.
Despite the financial crisis in Ireland and the weak economy in the UK, Boodles was able to grow sales across the board. Irish sales were up from £1,7m to £2m and the UK from £31.8m £34.4m.
During the year the company’s net assets rose from £27.4m to £31.7m.
