Family-owned jeweller Beaverbrooks calls on the UK government to “give business a bit of a break” after it reports weaker financial results. The company says its underlying operating profit falls 9% to £7.8m for the year, while total sales are essentially flat, dipping 0.1% to £217m.
Beaverbrooks links the downturn to higher costs faced by retailers, including increases in employer national insurance contributions (NICs) and the legal minimum wage. Both outlets report the firm is urging government to avoid adding further cost pressures, noting that retailers are also watching developments around the October budget. The statements frame the company’s performance as relatively resilient despite the profit decline, with management highlighting efforts to maintain operations as the external cost environment worsens.
