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Precious Metals

Sales increase at gold jewellery maker

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Clogau Gold of Wales, a jeweller which makes its products partly from Welsh gold, has reported growth in turnover and pre-tax profit with sales said to be outperforming the jewellery industry as a whole.

The Bodelwyddan-based company was founded in 1989 and makes its pieces with gold mined from Clogau in Snowdonia.

According to recently filed accounts for Clogau Gold of Wales Ltd, pre-tax profit was £2.35m in the year to 30 September 2015, up from £1.42m in 2014.

Turnover also increased to £12.5m from £10.8m the year before.

During the year, Clogau Gold opened a second store in London and an outlet in the West Midlands, adding to its sites in Cardiff, Bridgend and Cheshire Oaks.

In their report accompanying the results, the directors said: “The group’s strength and profitability has increased dramatically this accounting period, this has been largely as a result of the brand’s retail operations which grow from strength to strength. The group’s on-line retail operation has also continued to flourish.

“The brand’s performance has benefitted from increased consumer confidence during this accounting period, and has continued to outperform the growth of the jewellery industry as a whole.”

The directors added: “The group’s outlook for the medium and long-term growth and profitability continues to look very favourable.”

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Paul

The author Paul