Joules first half turnover declines

For the 26 weeks to November 24, 2019, Joules Group plc said revenue decreased by 1.4 percent to 111.6 million pounds (145 million dollars). The company said in a statement that retail revenue in the period was impacted by the timing of the Black Friday trading period, which fell in H2 in FY20 but in H1 in the prior year. On a comparable 27-week period, including Black Friday in both periods, group revenue increased by 1.3 percent. The company’s PBT before exceptional costs decreased by 0.9 million pounds to 8.4 million pounds (10.9 million dollars) and statutory PBT decreased to 1.7 million pounds (2.2 million dollars). While group gross margin remained in line with last year at 54.8 percent statutory basic earnings per share for the period were 1.3 pence compared to 8.3 pence in the previous year.