However, the firm’s pre-tax profits dropped slightly to £3.7m from £5.45m.

The increase in turnover follows on from a 62.2% increase in the financial year to May 2022, where the firm saw a strong recovery in the wake of the COVID-19 pandemic.

The jeweller, which has stores in Glasgow, Edinburgh, Cardiff and Southampton, revealed that employee numbers rose to 210 in the year from 187.

Laing’s said that the year to May 2023, had been a “year of continued investment” in its “UK retail, digital and workshop spaces”.

Joe Walsh, chief executive said: “We continue to focus on the importance of a bricks and mortar presence for several reasons. Showrooms allow our clients to see and feel each individual piece, steeping themselves in the rich and traditional history and expertise of our business and that of our prestigious partners.”