Royal jeweller Asprey would have fallen into the red last year if it had not sold its flagship London store.
The brand, which has carried a Royal warrant since 1862, saw turnover crash from £20m to just £6m during the pandemic.
However, it recorded an £8.5m profit thanks to the sale of its landmark New Bond Street outlet.
Appeal: Asprey is favoured by a succession of high profile Royals and celebrities, including actor Keira Knightley (pictured)
The accounts show that Asprey London, which has moved to nearby Bruton Street, made a profit of nearly £14m selling the leasehold.
Without this move, which will also mean a 40 per cent saving in its rental costs, it would have recorded a loss for 2021. Asprey London has had mixed results in recent years despite being favoured by a succession of high profile Royals and celebrities, including actor Keira Knightley.
An Asprey spokesman said yesterday that the company had opened two stores in the US, launched a digital studio, reopened its manufacturing workshops, and struck new commercial partnerships.
He said the company is ‘financially healthy’ and on ‘a growth path’.
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