Joules Group posts 12.7 percent jump in revenues

Joules Group in its trading update for the 52 week period ended May 29, 2016 said that its unaudited revenue of 131.3 million pounds (193.3 million dollars) increased by 12.7 percent compared to the prior 53 weeks period to May 31, 2015. Against the comparable 52 week prior period, revenue increased by 14.2 percent.

Commenting on the trading update, Colin Porter, CEO, said, “We have a clear growth strategy of increasing customer value; rolling-out UK stores; accelerating international growth; and delivering product extensions. We remain confident in continuing to deliver further growth as a listed company."

Retail sales for the period under review, increased 11 percent to 93.7 million pounds (138 million dollars) and wholesale sales increased 17.6 percent to 37.2 million pounds (54.7 million dollars). On a geographic basis, UK sales increased 11.6 percent to 118.1 million pounds (173.9 million dollars) of Group revenue and international sales increased 24.7 percent to 13.2 million pounds (19.4 million dollars) of Group revenue. Retail sales increased 12.8 percent and wholesale 18.3 percent against the comparable 52 week prior period.

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