New consumers boost bottom line
Profits surge for Hamilton & Inches in 150th year
Thierry Stern and Stephen Paterson with special edition watch (pic: Terry Murden)
Jewellers and silversmiths Hamilton & Inches has seen the benefits of marketing to a younger generation of consumers and to overseas customers.
Profit before tax at the Edinburgh-based company shot up fivefold from £224,269 to £1.13m on a sharp rise in turnover from £6.54m to £8.8m.
The figures for the year to the 1 April 2017 included celebrations to mark the 150th anniversary of the company which included a visit by the Queen in July 2016.
The anniversary was also noted by the launch of an Edinburgh timepiece by Thierry Stern, president of Swiss watchmaker Patek Philippe.
Stephen Paterson, Chief Executive of the company, whose majority shareholder is the financier Walter Scott, said: “As Royal Warrant holders, a visit from Her Majesty The Queen during our 150th anniversary was a great honour for our staff.”
He said an increased number of overseas visitors to Hamilton & Inches and an advertising campaign across print and digital platforms brought Hamilton & Inches products to a new generation of consumer,.