JEWELLERY group Signet has reported a three-fold increase in profits at its UK business, which includes the Ernest Jones and H.Samuel shops.
The group said operating profits for the three months to May 4 rose to £2.4m, up from £700,000 for the same period the previous year, while sales rose 8.8 per cent to £87.5m.
Overall, pre-tax profits for the year rose to £23.9m, up from £17.9m last time.
Signet, which has 604 shops in the UK, said sales benefited from a trend towards buying aspirational products such as diamonds and luxury watches.
Chief executive Terry Burman said the group's UK business continued to perform well, adding: "Trading conditions remain favourable although growth in consumer expenditure may moderate during the course of the year."
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