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Joules profit up 14.7% in first half

Lifestyle clothing brand Joules increased its underlying pre-tax profit by 14.7% to £10.7 million in the first half of its financial year. The six months to… View Article

FASHION

Joules profit up 14.7% in first half

Lifestyle clothing brand Joules increased its underlying pre-tax profit by 14.7% to £10.7 million in the first half of its financial year.

The six months to 25 November saw the company’s revenue climb by 17.6% to £113.1 million as the number of active customers rose by 20% to 1.4 million.

International sales jumped by 64.2% in the period and now account for 15.8% of the brand’s revenue.

Commenting on the results, Colin Porter, Joules 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 continue to benefit from a well-invested and flexible ‘total retail’ model in the UK, which enables us to respond and adapt to shifting customer preferences. Internationally, the brand continues to grow very well in both the US and Germany.”

Joules said it has continued to trade well after the period end and is confident that its full year underlying pre-tax profit will be in line with expectations.

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