Boodles Reports £18.1m Pre-Tax Profit Amid Slight Dip in Sales
Boodles has reported a pre-tax profit of £18.1m for the latest financial year, despite a 1.3% dip in sales to £104.9m.
The company operates high-profile stores across the UK and Ireland, including locations in London, Manchester, Liverpool, Chester, and Dublin.
Financial Performance and Dividends
In the accounts filed for Boodle & Dunthorne Ltd, the company noted a slight decline in pre-tax profit from £19.5m in 2023. During the same period, £6.4m in dividends were distributed to shareholders.
Despite the minor sales contraction, trading for the current financial year is described as “encouragingly strong,” with significant growth in both revenue and net profit reported to date.
Strategic Investments in Diamonds
The company’s annual review highlighted a focus on high-value inventory, particularly white and fancy coloured diamonds. These products are central to Boodles’ offering and cater to the demand for unique, high-end pieces within the luxury jewellery market.
Leadership Transition and Family Involvement
Leadership changes at Boodles in 2024 saw Jody Wainwright and Jayne Amos appointed as joint managing directors, with Michael Wainwright becoming chairman and Nicholas Wainwright named president. These changes reflect the family’s continued role in guiding the business.
Honour Wainwright became the first female family member to join the company, overseeing the marketing department since 2020. She was formally appointed to the board in August and brings experience from her previous role at Condé Nast.