Joules published a trading update on the 52-week period until 26 May, sending shares up during Thursday morning trading.
The retailer said that group revenue rose 17.2% to £218 million during the course of the year.
Specifically, the company said that wholesale revenue, which was up by 2.9%, was boosted by strong growth in international markets such as the US and Germany, as well as the UK.
Meanwhile, retail was up 22.7%, with online performing particularly strongly. Joules said that online sales now accounts for half of its group retail revenue.
This was despite the context of a challenging trading environment for retail, with many high street brands struggling to grow profits.
As a result, the board said it now expects underlying profit before tax to be at the top end range of previous guidance.
Colin Porter, the company’s chief Executive, commented on the results:
“As Joules celebrates its 30(th) 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.”
Shares in Joules (LON:JOUL) are currently trading up +5.82% as of 10:30AM (GMT).
