A family-owned luxury jeweller with showrooms across the North West and in London has reported slowed growth in its latest accounts, but said it continued to make investments despite challenging conditions.

David M Robinson was founded in Liverpool in 1969 by goldsmith David Robinson. The designer, manufacturer and retailer of fine jewellery now has showrooms in Manchester, Liverpool, Altrincham and London.

In accounts for the year to 31 March 2025, the main trading company of David M Robinson Ltd (DMR) increased turnover from £58.6m to £60.4m, an increase of 3 per cent compared to the 6 per cent increase enjoyed in 2023/24.

There was a full year of trading across the DMR estate but the slowdown was said to reflect a more challenging trading environment with consumer spending patterns remaining unpredictable.

Despite the increase in revenue, a substantial investment in upgraded showrooms over recent years has led to higher rent and depreciation costs. Consequently, operating profit decreased by 3 per cent to £5m, although EBITDA rose from £6.5m to £6.6m.

DMR's short-term outlook for the UK retail sector was said to remain "optimistically cautious", but the company added that the continued absence of a reinstated Tax-Free Shopping scheme for international tourists has "materially impacted the attractiveness of the UK as a destination for luxury retail, with high-spending visitors increasingly favouring alternative markets".

The business added that the lack of a "coherent, long-term strategy" to address business rates and the rise in Employers NI continues to create "uncertainty, operational strain and additional cost pressures across the sector".

Despite the challenges, DMR said it made the decision to invest in its future in St Ann's Square in Manchester with the acquisition of the freehold for Equitable Building, which currently houses its Manchester showroom.

John Robinson, managing director, said: "We have invested heavily in our future and an ongoing commitment to luxury retail in the North West with our acquisition of Equitable Buildings in St Ann's Square in Manchester, helping to create a genuine luxury hub in the heart of the UK's second city.

"We look forward with optimism to the year ahead and the DMR design workshops are entering an exciting phase for our boutiques in the North West, in Canary Wharf and in The Peninsula hotel in London's Belgravia.”