Profits leap at Joules as brand grows at home and overseas

Profits at Market Harborough-based lifestyle retauler Joules have leapt on the back of domestic and international growth.

Revenue for the year ending 26 May grew by 17.2% to £218m, while underlying profit before tax was up by almost 20% to £15.5m.

Colin Porter, chief executive, said: “Joules has delivered another strong performance this year with growth across channels and product categories, both in the UK and internationally. These results in a challenging retail sector reflect the strength and appeal of the Joules brand, the flexibility of our ‘Total Retail’ model, and the success of our carefully managed product extension strategy.

“I would like to take this opportunity to extend my thanks to all members of the Joules team for their hard work during the Period. Their passion, expertise and commitment to delivering great products and experiences for our customers continues to drive Joules’ growth and success.

“We are pleased with the Group’s performance to date in the early stages of our new financial year, with trading in line with our expectations. Looking ahead, whilst the consumer retail environment is anticipated to remain challenging, particularly in the UK, the Board and I believe that Joules remains well-positioned for continued success both in the UK and our target international markets.”

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