Luxury watch and jewellery sales have surged at Watches of Switzerland , with the retailer shrugging off wider cost-of-living concerns amid “enduring” demand for luxury watches and jewellery.

The London Stock Exchange -listed retailer said its financial performance over the first half of the year had been better than expected.

Revenues rose by 15 per cent to £974 million in the six months to November, compared with the same period last year and at constant currencies.

The US drove much of the growth, with revenues there surging by 22 per cent year on year.…