The strong growth of e-commerce boosts the results of Jules FY21
Revenue for the Jules Group for the fiscal year ended May 30, 2021 was £ 199 million, up 4.3% from £ 190.8 million in 2010.
Nick Jones, CEO of Jules, said of the company’s full-year performance: In this context, the Group has diversified even more as a leading lifestyle platform with a digital offering expanding, active customer base, successful acquisition of Garden Trading and continued expansion of Friends of Joules. We have made significant strategic progress. “
Review of Jules’ annual financial results
According to the company, e-commerce sales were up 48% to £ 122million, and excluding the acquisition of Garden Trading, e-commerce sales were up 43%. The company added that this growth was driven by sales through the group’s website. E-commerce represented 77% of the Group’s retail turnover over the period.
Annual sales of all of the company’s stores and shows were £ 36.6million. This reflects the non-essential forced closure of retail stores and the cancellation of shows and events due to Covid-19. During the period, the Jules store was closed for approximately 6 months compared to the 2 months of the previous year.
Jules’s wholesale revenue during this period, including Garden Trading, was £ 35.3million, down 17%, reflecting the continued impact of Covid-19 on many wholesale partners in the world. British and foreign group.
The company added that other revenue more than doubled to £ 5.1million, reflecting the strong growth of Friends of Joules Digital Marketplace and the good performance of several licensed product categories and partnerships.
Jules switches to profitability
Profit before deduction of extraordinary charges was £ 6.1m for a loss of £ 3.9m in 2008, and statutory profit before tax was £ 2m for a loss of £ 24.8 million pounds sterling in 2008, after tax. Statutory profit was £ 900,000 compared to a loss of £ 20.3 million over 20 years. ..
The Group’s gross margin stood at 49%, down 1.7% from the previous year, with basic earnings per share of 0.82p, but a loss of 21.61p in 2008.