Luxury concierge Quintessentially declares return to profit after turbulent period of trading during pandemic
Luxury concierge group Quintessentially has declared a return to profit after a turbulent period of trading during the pandemic.
Quintessentially – co-founded by the Queen Consort’s nephew, Tory grandee Ben Elliot – provides luxury services for the super-rich who pay an annual subscription fee.
An internal letter circulated to staff, seen by The Mail on Sunday, said pre-tax profit is expected to be £2.4million in the year to April 2022, the highest in ten years.
Luxury: Quintessentially provides services for the super-rich who pay an annual subscription fee
Total group revenues are forecast to hit £45million in the period.
The letter takes a far more optimistic tone to recent documents filed at Companies House which showed that the firm made a £2.6 million loss in 2020 as it scaled back operations during the pandemic.
The accounts from that year issued a warning over the company’s future as a going concern and included details of a loan from a US shareholder to help it keep trading.
But, in the letter, chief executive Darren Ellis, said the gloomy nature of Quintessentially’s delayed accounts simply reflects ‘a mass of historical restructuring and writeoff costs’.
He sought to ease staff fears by describing the firm’s recovery as a ‘universal success’, adding that this year’s numbers should give ‘optimism for greater profitability and success in the future’. He also revealed plans for new offices in Singapore and Saudi Arabia.
Ellis said the company is now ‘better positioned to grow and develop further than it ever has before’, and is ‘supported by our main shareholders’.