23rd Jul 2019 10:26
(Alliance News) - Countryside clothing firm Joules Group PLC on Tuesday reported strong profit and revenue growth despite the problems facing the UK retail market.
For the 12 months to May 26, Joules posted pretax profit of GBP12.9 million, 15% higher year-on-year, with the underlying figure rising 19% to GBP15.5 million.
Revenue for the year was GBP218.0 million, 17% higher than the year before. Like-for-like revenue growth was 13%, while International surged 44%, and now makes up 16% of overall revenue.
Active customer numbers increased by 8% to 1.5 million.
Joules is paying a final dividend of 1.35 pence per share, taking the year's total to 2.1p, up from 2.0p a year before.
Chief Executive Colin Porter 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."
Porter will be leaving the firm before the end of 2019, to be replaced by Nick Jones, who is currently head of Asda's food, general merchandise, & George business.
Looking forward, Joules said trading in its new financial year has been pleasing, meeting expectations, and it is confident on further growth despite the difficulty in the retail market.
Shares were down 2.4% on Tuesday morning in London at 249.00 pence each.
Related Shares:
JOUL.L