Table of Contents
Oliver Bonas has seen profits fall as middle-class shoppers tighten their belts.
The retailer, which sells jewellery, stationery and clothing, said business was hit by high interest rates and the cost of living crisis.
Profits were £6.8m in 2023, down from £7.6m the previous year.
Tough times: Oliver Bonas said business was hit by high interest rates and the cost of living crisis
The company employs more than 1,500 workers and has 84 stores.
But despite lower profits, sales rose 18 per cent to £136m in 2023.
Timothy Hollidge, the company’s director, said the start to 2024 had also been “stronger than expected”.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investment and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free investment ideas and fund trading
interactive investor
interactive investor
Flat rate investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading commissions
Trade 212
Trade 212
Free treatment and no commissions per account
Affiliate links: If you purchase a product This is Money may earn a commission. These offers are chosen by our editorial team as we believe they are worth highlighting. This does not affect our editorial independence.