Liberum Capital’s year to May 2018 pre-tax profit forecast for British lifestyle brand Joules (JOUL:AIM) is now 12% higher than a year ago. That is impressive given the inclement market conditions for most clothing retailers.

Differentiated brand Joules is in an upgrades cycle. Following another year of double digit growth, it said on 7 June that pre-tax profit would be ‘marginally ahead’ of analyst expectations, hence why Liberum has lifted its 2018 estimates by 3.3% to £12.8m and nudged up its 2019 forecast by 1.6% to £14.8m.

‘Joules has a strong brand, heritage, low fashion risk and wide appeal,’ it says. ‘It is gaining share in the fast-growing premium lifestyle sector where multiple growth levers exist including stores, online, wholesale and international. Joules is relatively immature versus key peers leaving space for growth.’

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