British Clothing Retailer Bucks Trend with Strong Performance
- Joules reports double-digit growth in revenue and profits
- Group revenue up 18% to £185.9m
- International revenue increases by 35% representing 13% of group revenue
- Underlying profit before tax rises 28% to £13m
- Underlying EBITDA up 24.4% to £21m
- Active customers increase by 23% to 1.15 million
- CEO Colin Porter praises brand strength and growth strategy
- Non-executive chairman Neil McCausland highlights flexible business model and strong customer connection
British clothing retailer Joules has defied the challenges facing the high street by reporting double-digit growth in both revenue and profits. In its full-year results ending May 27, Joules posted a group revenue of £185.9m, up 18% from the previous year’s £157m. International revenue increased by 35%, now accounting for 13% of the total. Underlying profit before tax rose 28% to £13m, and underlying EBITDA grew 24.4% to £21m, leading to a final dividend of 1.3 pence per share. Joules operates 123 stores in the UK and ROI and has 1.15 million active customers. CEO Colin Porter credits the brand’s strength, growth strategy, and loyal customer base for the success. Non-executive chairman Neil McCausland highlights a flexible business model and strong customer connection as key factors in Joules’ ability to grow despite retail sector difficulties.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Joules’ financial performance, including revenue growth, profit increase, and customer base expansion. It also includes quotes from the CEO and non-executive chairman that support the company’s success in both UK and international markets.
Noise Level: 2
Noise Justification: The article provides relevant information about Joules’ financial performance and growth, with quotes from company executives discussing their strategy and outlook for the future. It also acknowledges challenges facing the wider UK retail sector but does not delve into unrelated topics or contain irrelevant information.
Financial Relevance: Yes
Financial Markets Impacted: Joules’ stock price may be impacted by its strong financial performance and growth, affecting investors and potential investors in the company.
Financial Rating Justification: The article discusses Joules’ financial results, including revenue and profit growth, which directly pertains to financial topics. Additionally, it mentions the potential impact on the company’s stock price due to its strong performance and future prospects, making it relevant to financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article, but it discusses the positive performance of Joules clothing retailer with increased revenue and profits.
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