Seiko returns to operating profit as sales are highest since Covid
Seiko UK Limited saw a return to operating profit for the year ended 31 March, while also posting its highest sales since pre-Covid.
Turnover was up +8.1% to £29,048,000 from £26,869,000 in the previous 12 month period, while operating profit was £530,000, well up on the operating loss it had made in the previous year.
The company cited double-digit percentage sales growth year-on-year for Grand Seiko across its UK retail network, its own Bond Street boutique, and its e-commerce site as being a key driver of the improved financial performance.
Looking at future plans for growth, Seiko UK said that it’s planning a “programme of significant investment in new display furniture and, where appropriate, enhanced shop-in-shop installations.”
It’s also planning to continue its strategy of elevating the Seiko brand from a price and manufacturing perspective. “Seiko will continue to see average sales prices continue to rise,” it noted.
