Chisholm Hunter achieved an 11-fold increase in operating profit in the year to March 31 thanks to an 87% rise in sales from £29 million to £54 million.
Turnover had fallen from £41 million in the last full year before the pandemic to £29 million and operating profit had dropped to just £0.7 million in the 2020-21 financial year.
But, as government mitigation measures ended, sales bounced back to £54 million and operating profit rocketed to £8 million.
“On reflection, I am inspired by the Chisholm Hunter family and how well they have navigated through a turbulent two years. I feel that we have resurfaced post pandemic a stronger team and I am sincerely grateful to those whose dynamism and work ethic have contributed to the business’s remarkable progression. It is a privilege to work alongside each and every CH colleague,” Harry Brown, managing director for Chisholm Hunter tells WATCHPRO.
Chisholm Hunter has been pushing upmarket with its watch and jewellery offer while expanding its network of stores.
The company expanded and renovated its Bromley and Warrington showrooms, opened a Vacheron Constantin mono brand boutique in Edinburgh and relaunched its ecommerce site.
Since the end of the 2021-22 financial year, the business has also been finalising work on a flagship store in Aberdeen Union Square that will be anchored by Omega, IWC, and Panerai when it opens in November.
Expanding and improving the Chisholm Hunter network is only half the story, according to Mr Brown, who says that the growth in the past year would not have been possible without investment in its people and laser focus on customer needs.
“This year’s financial results are a great foundation to accelerate our strategic plans. I am acutely aware that a business grows as a direct consequence of the growth of its people therefore we will amplify our significant investment into the CH academy in 22/23. The academy will provide the infrastructure to take our client-centric business model to the next level as well as providing the Chisholm Hunter team with the skill set for career advancement as the business grows,” he states.
