(Source: GOV.UK)
British laws mandating financial transparency provide a rare glimpse into Rolex accounting in the sixth largest economy in the world, and the results are up and to the right.
On Wednesday, the Rolex Watch Company Limited — the UK branch of Rolex S.A. — filed a 37-page annual report and financial statement with the Companies House. Rolex sales in the U.K. and Ireland have never been higher, standing at £685 million, more than double what it was just six years before. Rolex profits increased to £65.8 million, topping previous year’s results of £59.5 million.
Still, UK's largest retailer of Rolex watches, Watches of Switzerland, complained the models they had received from Rolex UK weren’t as flashy as hoped. On its post-warning conference call, as reported by the Financial Times earlier this year, WoS management said too many deliveries have been steel rather than rose gold so average selling prices have taken a hit.