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Aurum Holdings operating profits increased by 174% in 2017

Aurum Holdings Turnover

Aurum Holdings published its accounts for the financial year ending April 30 2017 today; confirming that sales rose 24.4% to £566 million and operating profit increasing 174.2% to £17.2 million.

The accounting period pre-dates the acquisition of Mayors in the United States, which the group bought for $105 million in October 2017.

Aurum Holdings, which is owned by private equity giant Apollo Global Management, operates 165 points of sale in the UK comprising Mappin & Webb, Goldsmiths, Watches of Switzerland, Watchshop and The Watch Lab.

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Gross margin slipped from 14.4% in FY 2016 to 12.4% in FY 2017, but total comprehensive income for the year improved from a loss of £22.6 million in 2016 to a loss of £4.6 million in 2017.

The cost of servicing the group’s debt dropped from £27.2 million in 2016 to £22.2 million in 2017.

Aurum Holdings employed 1802 people at the time of filing its accounts, 88 more than in 2016.

 

Tags : Aurum Holdings
Rob Corder

The author Rob Corder

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