The luxury watch specialist’s pre-tax profit nearly trebled, up 181% to £20.1m in the year to April 28, driven by a 22.5% boost in group revenue to £773.5m.

Adjusted EBITDA for the group, which comprises Mappin & Webb, Goldsmiths, Watches of Switzerland and Mayors in the US, climbed 17.6% to £68.8m.

Watches of Switzerland’s full-year sales uplift was driven by its luxury watch division, which reported 28.3% uplift in revenue to £631.4m, representing 82% of group sales.