- Pre-tax profits up 41.5% to £7.5m
- Group sales up 14.2% to £131.3m
- Joules boss Colin Porter said it was a “transformational year in the development and expansion of the Joules brand, which included our successful admission to AIM in May”
Joules has unveiled a 41.5% increase in its full-year pre-tax profit in what it has described as a “transformational year”.
After completing a sucessful IPO earlier this year, Joules has reported a 41.5% increase in pre-tax profit to £7.5m.
It said group revenue increased 14.2% to £131.3m in the comparable 52-week period to May 29.
Joules’ ecommerce sales grew 17.3% following the re-launch of its website last year, and 10 new store openings bolstered store sales, which increased 13.1%.
Sales at its wholesale division increased 18.3%, which the retailer said reflected the “growing appeal of the Joules brand in the UK and target international markets”.
Joules’ active customer base increased 33% in the year to 824,000 and the retailer said international sales now represent more than 10% of the group’s revenue.
Joules chief executive Colin Porter said: “It was a transformational year in the development and expansion of the Joules brand, which included our successful admission to AIM in May.
”We have delivered strong growth across our retail and wholesale channels, significantly increasing profitability by effectively leveraging our operating cost base. Our active customer base and international sales have also grown impressively, all of which is great testament to the growing strength and appeal of Joules as a premium lifestyle brand.”
Porter added that group trading so far in its current year has been “in line with expectations”.