Joules profits jump in first full year since floating on AIM

Profits at retailer Joules jumped in its first full year since floating on AIM as revenue rose thanks to strong international and online growth.

In the 52 weeks to 28 May, underlying pre-tax profit rose 34% to £10.1m on revenue of £157m, up 19.6% from the year before.

Retail sales were up 19.4% in the year, with e-commerce sales up 29.4% and now making up 34.8% of total retail sales. Meanwhile, store sales were 17.5% higher, supported by 11 new store openings.

Wholesale revenues increased 20.3%, or 17.6% at constant currency, which the company said reflects the growing appeal of its brand in the UK and target international markets.

The number of active customers increased by 14% to 907,000 and international revenue - which now represents 11.5% of group revenue - rose 36.2%.

Chief executive officer Colin Porter said: "FY17 was another very exciting year for the group as the Joules brand continued to expand and develop across distribution channels and product categories both in the UK and internationally.

"The strong progress delivered during the year was again underpinned by the group's steadfast focus on its growing and loyal customer base, product quality and delivering engaging experiences across all channels."

At 1215 BST, the shares were up 0.3% to 302.25p.