UP-MARKET jewellery chain Boodles’ profits continued to sparkle in 2008.

Sales rose from £33.5m to £37.5m, while previous stellar profits of £3.6m zoomed to £5m.

One of the reasons for continued prosperity is the weakened pound, which has helped well-heeled foreigners bolster the coffers of the London stores.

Managing director Michael Wainwright said he was hopeful that sales would remain steady in the current year:

"Jewellery is far from being immune to recession, but there is still more business out there than people may realise. However, given the current circumstances, I would regard static sales as something of an achievement.

"There is still demand for quality products and designs and there are still plenty of people getting engaged or married."

Mr Wainwright said he has been scrutinising costs, as well as making sure that excellent customer service and design remained a watchword.

Turnover has been rising steadily in recent years from £25m in 2006.

Similarly, pre-tax profit has risen, peaking at the latest figure.

During the year, Boodles turned raw materials worth £700,000 into finished goods valued at £17.8m.

A total of 90 staff at six stores cost £6.4m, while the highest paid director at the family firm was paid £660k.

The company's balance sheet shows a strong position with shareholders funds amounting to £20.8m. The directors consider the company to be well placed to take advantage of opportunities arising in the future.

During the year, the company made charitable donations of £183,952 and donated £200 to Liverpool Conservatives.

Boodle & Dunthorne was founded in Liverpool in 1798 when the French Revolution was raging across the channel.

The Wainwright family took over the business in 1870 and have been running it ever since.

BARRY TURNBULL