Theo Fennell promises return to sparkling form

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Theo Fennell said yesterday that his eponymous jewellery business was targeting the US and China, and should return to profitability this year.

The confident assessment came as the company, which is in discussions with potential partners to extend its international reach, posted a loss of £550,000 for the 12 months to March.

But it said the new financial year had seen an encouraging start, with like-for-like retail sales climbing by 15 per cent over the first 12 weeks. And it blamed the snowy weather during the run-up to Christmas for its disappointing results last year.

Fennell said it was benefiting from an increasing number of tourists coming to Britain.