The jewellery retailer’s sales increased 2.9% to £127.4m during the year to March 2. 

The specialist retailer posted an operating profit of £12.4m however this was down from the previous years profit of £13.6m which it said was a result of “significant investment in our people’s salaries, training, and new stock lines.”

Beaverbrooks managing director Anna Blackburn said: “These results demonstrate that the combination of a sound strategy and continued investment in people, product and our presence on the high street, can deliver sustained success.