Aurum is sparkling as it ponders sell-off
Tuesday 14 February 2012
The retail jewellery group Aurum Holdings has delivered a sparkling jump in operating profits as its owners mull a sale of the company.
This was driven by a 10.2 per cent rise in underlying sales and a focus on high-margin jewellery at the firm behind the Mappin & Webb and Watches of Switzerland chains.
The collapsed Icelandic bank Landsbanki put its majority stake in Aurum on the market last year and the group is thought to have attracted the interest of L Capital, the private-equity arm of LVMH. operating profit soared 53 per cent to £18.3m in the year to 29 January, on revenues of £300.6m.
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