21st Jun 2016 06:54
LONDON (Alliance News) - Joules Group PLC on Tuesday reported growth in revenue in its recently-ended financial year in each of its trading divisions and said it will meet management expectations for its full-year results.
The clothing, accessories and homeware retailer, which floated in London in late May, said group revenue in the 52 weeks ended May 29 grew by 13% to GBP131.3 million from GBP116.4 million the year before.
Retail sales increased by 11% to GBP93.7 million from GBP84.4 million, while wholesale sales were up 18% to GBP37.2 million from GBP31.6 million.
Geographically, UK sales grew by 12% to GBP118.1 million and international sales rose by a quarter to GBP13.2 million.
All prior-year figures include an extra week. Excluding the prior year's 53rd week, total revenue grew by 14% against the 52-week comparative, while retail sales rose by 13% and wholesale sales were up 18%.
Joules said its full-year results, which it will announce on September 7, are anticipated to be in line with management expectations.
"We have a clear growth strategy of increasing customer value; rolling-out UK stores; accelerating international growth; and delivering product extensions. The energy, skill and commitment of the Joules team and the unique design of our products underpins this strategy. We remain confident in continuing to deliver further growth as a listed company," Chief Executive Colin Porter said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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