Signet, the UK-listed specialist jewellery retailer, has stated that its UK business is not for sale following recent reports of interest in the company.

British entrepreneur Gerald Ratner has reportedly made an informal bid of £350m for the company he once owned, which includes high street chains H Samuel and Ernest Jones. An un-named private equity company is also believed to have made an approach in recent weeks. 

Yesterday, Signet announced results for the third quarter of 2006, unveiling an increase in like-for-like sales for the UK division of 3 per cent to £92.8m, while the US business reported sales of £235.5m, an increase of 6.5 per cent.