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

The London-based arm recorded a pre-tax profit of £14.9m for 2024, according to fresh accounts lodged with Companies House. This figure marks a sharp drop from the £61.1m pre-tax profit Pandora achieved in 2023.

The company's turnover decreased from £448m to £441.3m over the same timeframe, as reported by City AM .

A board statement declared: "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."

Regarding future prospects, Pandora noted: "The directors expect that UK consumers' discretionary spending and general rates

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