AP smashes through £100m revenue barrier in latest UK financials

Audemars Piguet’s UK operation has recorded a 29% increase in annual turnover for the year ending 31 December 2025.

Meanwhile, operating profit remained steady at £7,761,079, a drop of less than -3%.

These impressive financial results are primarily driven by three strategic factors, the first of which is its heavy investment in its boutiques (AP Houses). This investment — up to £15,388,470 in 2025 — is already providing the return that the company had hoped for, especially with its high margin direct-to-consumer model.

Another area of growth has been its joint Manchester venture with Watches of Switzerland — Audemars Piguet (Manchester) Limited — which it owns 60% of. In 2025, this subsidiary scaled up and contributed a substantial £7,369,217 directly to group revenue.  

Thirdly, sales of watches and accessories rose from £80,239,438 to £103,838,165, which offset the planned closure of Audemars Piguet (Sloane Street) UK Limited, which ceased operations in June 2025 (which caused its individual contribution to the group to fall from £15,469,879 in 2024 to £8,067,570 in 2025). 

“The Directors are pleased with the results presented by these financial statements for 2025, highlighting robust financial health and a successful operational strategy,” the company wrote in its strategic report.

The company also backed the UK as a key market for the foreseeable future. “Brexit in the short term has not had an adverse effect on the UK market as the fluctuation in exchange rate made the UK an attractive place to purchase. Mid to long term the Company will be investing heavily in the market as there is great potential for growth in the UK.”