New chief at Signet

By THIS IS MONEY
Updated:

 

Jewellery retailer Signet today named the head of its US operations as its new chief executive and unveiled a sparkling set of full year results.

The owner of H Samuel and Ernest Jones said Terry Burman, currently chief executive of the US operation, would take on the role at the entire group.

Executive chairman James McAdam currently fills the role. He will become a non-executive chairman from March 31. Mr Burman takes the helm after a record financial performance at the company, which is the world's biggest jewellery specialist.

Group profits surged 43% in the year to January 29, up from £89.2m to £127.7m. The profit jump came as sales rose to £1.14bn from £991.2 million last year, but expenses remained flat.

Two-thirds of sales now come from its growing US business.

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