Theo Fennell narrows losses

Jeweller Theo Fennell yesterday posted a narrower first-half pre-tax loss as its turnaround strategy began to pay off and said it was well positioned to return to profitability. The jeweller, used by celebrities including Elton John and Naomi Campbell, launched a new lower-priced silver range last month, which it said had been well received. For the March to September period, the company posted a pre-tax loss of £877,330 compared with a loss of £1.1m a year ago. The company said its shop in the Royal Exchange in the City was among those with a loyal client list. Chief executive Barbara Snoad said: “The new range is helping us and people are willing to buy quality items at a reasonable price.”