Record results for Theo Fennell

British jeweller Theo Fennell has announced pre-tax profits more than doubled to £1.6 million on sales up 30 percent to £25.4 million, compared with £19.4 million last year. Christmas sales and demand for the firm's new collections boosted turnover.

Theo Fennell, which is popular among celebrities like Elton John and the Beckhams, is celebrating is 25 th anniversary this year and is looking to expand its business abroad. The company is said to be in talks to establish a base in the US and will also open its first store in Dubai this year. A second Moscow location is also pending. Furthermore, the brand has plans to expand with new ranges. In February of this year, the group introduced a Theo Fennell fragrance, which contributed to the increase in licensing revenues.

"Following two record years, sales have increased over that period in aggregate by 56 percent and profits by £1.5 million," said chairman Richard Northcott. "This growth has been driven by the popularity of our design-led and distinctive products, the strength of our brand, our strong established team and our focused expansion programme."