Aurum, owner of Goldsmiths, Mappin & Webb and Watches of Switzerland, full year profits jump 7%

Like-for-like sales rose 6.8% over the year to February 3 and total sales increased 5.7% to £318.2m.

EBITDA, before exceptionals, increased 6% to £24m at Aurum, which was bought by US private equity retailer Apollo in March.

All brands across the business experienced like-for-like growth over the year and the positive momentum has continued in the new year with the retailer reporting a “strong” start to the year.

Aurum chief executive Justin Stead said: “We are delighted with these results in what is still a very challenging retail environment.

“With the recent acquisition by Apollo Global Management we are now in an even stronger position to continue to deliver substantial growth in the future. With our positive start to the new financial year, we are confident for another good performance from the business this year.”