Joules has posted its first full-year results since its float on the AIM stock exchange in May and has recorded a growth in revenue of 14.2% to £131.3m. Underlying profit before tax jumped 41.5% to £7.5m in the year to the end of May 2016.
The brand, which is sold via its own store network and via wholesale, specialises in quirky British designs for men, women, kids and home. It reported strong growth across retail and wholesale and said international business and “grown impressively” which was “a great testament to the growing strength and appeal of Joules as a premium lifestyle brand,” according to CEO Colin Porter.
Porter added that the brand was looking forwards with confidence. “Group trading to date in FY17 [financial year] has been in line with expectations and early feedback on our Spring/Summer 17 ranges from our trade customers has been positive. The Group has a clear growth strategy, underpinned by the consistent quality and design of our products and the skill and commitment of our enterprising team. The Board remains confident in the brand’s long term development in the UK and internationally,” he said.
Joules began life 25 years ago selling outdoor clothing at country fairs. It now has close to 100 stores across the UK and Republic of Ireland and a strong e-commerce presence. It is one of the top-selling brands at John Lewis and Next Label.