Oliver Bonas full-year profits jump 21% to £9m
Sales for the group remained “resilient” with a positive like-for-like sales growth for the year
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Oliver Bonas has reported a 21% pre-tax profit increase to £9m for the year ending in December 2022.
Sales for the group remained “resilient”, as revenues increased 23% to £115m, compared to the £92m reported for the same period the previous year.
In addition, operating profit jumped to £62m, compared to £5m in 2021.
In 2022, the fashion, jewellery and homewares retailer opened eight new stores and increased the size of two existing ones.
Director Timothy Hollidge said: “With inflation back in the system, the UK economy has struggled, high energy prices and the highest food inflation since record began have impacted the UK consumer’s disposable income markedly. However, looking forward things are slightly better. Energy prices have fallen steeply, food price inflation may have peaked and the economy has proven more resilient than predicted.
“The company will continue with its store opening programme through a mixture of new stores and relocations. In addition, there will be continued focus on the websites and the user experience.”
