Aurum's profits and sales glitter

Aurum Holdings, the company behind the Goldsmiths and Mappin & Webb jewellery chains, has posted soaring full-year profits and said the sale of the group for up to £200m "remains on track".

The firm, which also owns Watches of Switzerland, posted an 85 per cent leap in operating profits to £12m, on sales of £280.6m, over the year to 30 January. Its like-for-like sales rose by 11 per cent, boosted by strong demand for high-margin jewellery. Aurum is close to granting one of four remaining bidders exclusivity to acquire the group.