Fraser Hart remains in the red with turnover flat
Fraser Hart has reported flat turnover and flat operating losses for the financial year ending 29 June 2025.
Its annual revenue went from £35,357,000 the year before to £34,919,000; while its operating losses came down marginally to -£2,603,000, from £2,901,000 in the previous period.
In its review, Fraser Hart remained cautious about UK trading conditions for the foreseeable future.
“For the twelve months to 29 June 2025, trading conditions in the UK have shown early signs of improvement compared with the prior year,” the company said. “However, The Board anticipates that the overall UK conditions will remain relatively subdued in the medium term.”
Fraser Part, which is part of the Anthony Nicholas Group, which also operates Fields the Jeweller in Ireland, has struggled to find its feet in the years since Covid lockdowns, when all companies with a significant physical representation on the high street suffered. Its turnover was as high as £86,433,000 in 2018, with profit hitting almost £5 million in 2017.
The fallaway in turnover is in some part explained by the contraction in the company’s network of stores, with it currently operating 22 shops compared with 40 pre-Covid. But operating losses remain stubborn, albeit at a far more palatable level compared with 2020, when it recorded a loss of £37,764,000.
