Edinburgh’s 150-year-old jeweller Hamilton & Inches saw says nudge up by 1.1% in 2019 to £8.8 million but operating profit dropped by 78% from £511,733 in the year ended March 30 2018, to £113,105 for the 2019 financial year.
A statement from the company accompanying the financial results says Hamilton & Inches is pleased to have achieved a pre-tax profit and described 2019 as an exciting year with foundations laid for the company’s future by way of substantial investment in every aspect of the business.
The company devoted significant resources to training, development and apprenticeship programmes, with robust investment in restructuring and IT also key focuses, the statement describes.
“Our investment into all aspects of the business demonstrates our commitment to the future of Hamilton & Inches and the strength of our vision for the next chapter of the brand,” says Victoria Houghton, CEO of Hamilton & Inches.
“This last year has represented a key time for us and we have prioritised supporting our showroom, workshop and head office staff as we look to the future. The skill set within Hamilton & Inches is a truly unique aspect of the brand to which we have committed significant resources this year, and which we will preserve and nurture with continued investment,” she adds.
Hamilton & Inches is an authorised dealer for Rolex, Patek Philippe, Bremont, Urban Jürgensen, Chanel and Nomos. It is also particularly proud of its historic jewellery and silverware business, which is supported by major workshops above its George Street showroom. 2019 saw it secure access to Scotland’s first ever commercially mined gold.
Investment in 2020 is being directed into refurbishment of its central Edinburgh showroom. The work aims to bring a fresh and contemporary feel to the retail floor, workshops and back of house whilst retaining original and historical features, the company says.