Joules, the Market Harborough-based lifestyle brand, has witnessed a jump in group revenue and profit before tax, contrasting the picture of the UK’s high streets.
Group revenue grew 17.6% to £113.1 million, while underlying profit before tax increased by 14.7% to £10.7 million.
The “strength of the Joules brand” and its “flexible ‘total retail’ model” has, according to the retailer, delivered profits ahead of initial expectations.
Colin Porter, Chief Executive Officer, 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.
“The business’s success during this first half of the year is testament to the strength of our distinctive brand and the efforts of our fantastic team. 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.
“During 2019 the brand will celebrate its 30th Birthday, marking three decades of Joules delivering fun, quality clothing for families and friends to make lasting memories together. We have some very exciting celebrations planned throughout the year built around some of the special moments we have shared with our customers since the Joules story began – when Tom started selling practical clothing with a distinctive twist on a stand at a country show in Leicestershire – back in 1989.
“We have continued to trade well since the Period end with a good performance through the festive period and positive customer reactions to our new collections. We have an outstanding brand, good momentum and a growing customer base and we look forward to the second half of the financial year with confidence.”