British lifestyle brand Joules enjoyed a double-digit rise in revenue over the last 12 months, as booming international demand helped the firm shrug off wider troubles in the retail sector.
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The fashion firm’s revenue jumped by 17.2 per cent to £218m in the year to 26 May 2019, while pre-tax profits for the full year are set to come in near the top of market expectations at roughly £15.3m.
Citing strong momentum through the first half of the year and into the crucial Christmas trading period, Joules said it had enjoyed “strong growth” in its international business.
Shares in the firm, which is known for its colourful raincoats, climbed five per cent in morning trading.
Last month the group poached former Asda director and retail veteran Nick Jones to take over as chief executive.
Colin Porter, the company’s current long-serving boss, is set to move to historic men’s tailoring firm Moss Bros.
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Porter said today: “As Joules celebrates its 30th anniversary, this strong performance, particularly in our international markets and across our E-commerce and Licensing channels, reflects the strength of our distinctive brand as well as the appeal of our products across an ever-increasing range of lifestyle categories.
“The group’s flexible and integrated ‘total retail’ model is well suited to meet rapidly evolving consumer shopping behaviours. Supported by this strong momentum and our outstanding brand, growing customer base and skilled colleagues across the world, we continue to look forward with confidence despite well-documented sector headwinds.”