‘Outstanding’ Joules posts hike in profits and revenue

Market Harborough retailer Joules has continued to defy the gloom on the High Street after posting hikes in both revenue and profit for the six months to 25 November 2018.

Turnover increased by 17.6% to £113.1m over the period, while underlying profit before tax was 14.7% to £10.7m.

International revenue increased by 64.2% and now represents 15.8% of Group revenue.

Colin Porter, chief executive, said: “Joules has delivered another strong performance in the first half of year. As previously reported, this outcome is ahead of our initial expectations for the period and has been achieved despite challenging trading conditions.

“We have continued to trade well since the period end with a good performance through the festive period and positive customer reactions to our new collections. We have an outstanding brand, good momentum and a growing customer base and we look forward to the second half of the financial year with confidence.”