Fall in profits takes the shine off Pandora's performance

LUXURY jewellery brand Pandora's UK division has seen profits fall as sales retreated from record highs.

- JON ROBINSON

LUXURY jewellery brand Pandora's UK division has seen profits fall as sales retreated from record highs.

The London-based arm recorded a pretax profit of £14.9m for 2024, according to fresh accounts lodged with Companies House.

This figure marks a sharp drop from the £61.1m pretax profit Pandora achieved in 2023.

The company’s turnover decreased from £448m to £441.3m over the same timeframe.

A board statement said: “The business has maintained a solid platform during 2024 with good sales given the wider market context and continues to focus on maintaining the brand image through the sale of high quality and fashionable jewellery.”