Joules (JOUL) , the AIM 100 listed British lifestyle brand, reported strong revenues in a trading update released on Thursday.
It told investors it expects profits to be at the upper end of analysts’ expectations, driven by strong revenues and robust gross margins during the year.
It reported revenues increased by 17.2% to
It reported strong growth of its international business, now representing approximately 16% of its revenue, despite citing a “challenging sector trading environment”.
Shares in Joules were trading 5.88% at 270p a share following the trading update
Joules said that its E-commerce performed particularly well in the year, representing half of its retail revenue.
While within its wholesale business, it said that international now represents approximately half of sales, driven by strong growth the US and Germany.
Colin Porter, Chief Executive Officer, commented: "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.”
He added: “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."
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