Luxury concierge Quintessentially declares return to profit

Luxury concierge group Quintessentially has announced a return to profits after a turbulent trading period during the pandemic.

Typically – co-founded by the Queen Consort’s cousin, Tory grandee Ben Elliot – offers luxury services to the super-wealthy paying an annual subscription fee.

An internal letter to staff, seen by The Mail on Sunday, said pre-tax profits are expected to reach £2.4m in the year to April 2022, the highest in a decade.

Total group sales are expected to be £45 million in the period.

The letter is much more optimistic in tone than recent documents filed with Companies House which showed the company lost £2.6million in 2020 as it scaled back operations amid the pandemic.

That year’s accounts issued a warning about the company’s future as a going concern and included details of a loan from a US shareholder to help the company continue to trade.

But in the letter, CEO Darren Ellis said the bleak nature of Quintessentially’s delayed accounts simply reflects “a mass of historic restructuring and amortization costs.”

He tried to allay staff fears by describing the company’s recovery as a “universal success,” adding that this year’s numbers should provide “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 than ever before” and is “backed by our key shareholders.”