Boss of Beaverbrooks urges government to give businesses ‘a bit of a break’

A long-standing jeweller has warned of stagnant sales and a sharp decline in profits, blaming recent government policy changes for financial strain. The company cited rising employer national insurance contributions and increased minimum wage costs as key factors behind a 9% drop in underlying operating profit. With retailers bracing for October’s budget, the business has urged policymakers to ease cost pressures to support struggling firms. The retailer, which traces its roots back over a century, now faces pressure to adapt amid economic challenges.

Jeweller reports flat sales and fall in underlying operating profit as retailers anticipate October budgetBusiness live – latest updatesThe boss of the family-owned jeweller Beaverbrooks has called on the government to give business “a bit of a break” by halting cost increases amid flat sales and falling profits.The retailer, founded in 1919, revealed a 9% fall in underlying operating profit to £7.8m last year after an increase in employer national insurance contributions (NICs) and the legal minimum wage introduced by the former chancellor Rachel Reeves. Continue reading...