Beaverbrooks reports flat sales and a fall in underlying operating profit
According to The Guardian Business, Beaverbrooks, the family-owned jeweller founded in 1919, reported flat sales and a 9% fall in underlying operating profit to £7.8m last year, tied to higher employer NICs and the minimum wage introduced by former chancellor Rachel Reeves. The boss urged the government to halt cost increases to give businesses some relief.
Key facts
- 01Beaverbrooks reported flat sales for the period.
- 02Underlying operating profit fell by 9% to £7.8 million.
- 03The decline followed increases in employer NICs and the minimum wage introduced by Rachel Reeves.
- 04The boss called on the government to halt cost increases to give business a break.
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- Boss of Beaverbrooks urges government to give businesses ‘a bit of a break’ · The Guardian Business