Hotel Chocolat increases full year profit by 13%
Hotel Chocolat increased its pre-tax profit by 13% to £12.7 million in its full year, which was slightly ahead of expectations.
Underlying EBITDA was up 16% to £18.9 million in the year to 1 July while revenue climbed to £116.3 million from £105.2 million in the previous year.
The company said its store estate performed well in the period as it opened a further 15 shops in new locations. Meanwhile sales through its website increased by 14%.
Angus Thirlwell, Hotel Chocolat chief executive, said: “The encouraging performance of our UK channels means we remain confident of further growth, with an exciting range of new product innovations for this autumn, including our Chocolat Cream Liqueur and the Velvetiser in-home Hot Chocolat system.”
The company said it is continuing to expand internationally to help grow the business.
Thirlwell added: “We are increasingly confident that international expansion presents a growth opportunity, and will be adopting a cautious ‘test, learn, grow’ approach to our new partnership in Scandinavia and our new ventures in the US and Japan, where we intend to open our first stores this winter.“
Hotel Chocolat said trading since the year-end has been in line with management expectations.
Andrew Gerrie, Hotel Chocolat chairman, added: “Despite challenges and uncertainties in the wider economy the strength of the brand drives great customer loyalty and we are well positioned for the future, with a strong pipeline of opportunities.”
