Joules posts 34% profit rise

Joules, the Market Harborough-based lifestyle retailer, has posted a big hike in profits for the year-ending 28 May.

The firm has seen profits leap from £7.5m to £10.1m over the last year, with turnover also up by nearly 20% to £157m.

Joules’ overseas sales rose by 36.2% and now represents 11.5% of Group revenue.

Colin Porter, chief executive officer, said: “FY17 was another very exciting year for the Group as the Joules brand continued to expand and develop across distribution channels and product categories both in the UK and internationally.

“The strong progress delivered during the year was again underpinned by the Group’s steadfast focus on its growing and loyal customer base, product quality and delivering engaging experiences across all channels.

The Board remains confident that the Group’s momentum will continue into FY18, despite the uncertain macro-economic outlook. This confidence is supported by the growth in our customer base, our exciting new store opening plans, a robust Autumn/Winter wholesale order-book both in the UK and internationally, and positive early feedback on our Spring/Summer 2018 ranges from wholesale customers.”