Luxury Scottish jeweller Hamilton & Inches has announced a fall in revenue, though it was the second-highest in its history.

Revenue for the year to the end of March 2024 came in at £11.6m, compared with £13.1m in 2023 and £11.3m in 2022, both of which were record years. Pre-tax profits also fell to £875,787 from £1.32m.

Victoria Houghton, director, said investment had been made in all aspects of the business that will support its strategic objectives.

As one of only two jewellery businesses worldwide licensed to use 18ct single-mine origin Scottish gold in its collections, Hamilton & Inches expanded its Scottish gold offering by launching engagement rings using the material in October 2023.

Crafted entirely in-house by master goldsmiths, Hamilton & Inches’ Scottish gold pieces have proven particularly popular with UK & US clients searching for treasurable heirloom pieces.