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Profits double at Hotel Chocolat

Hotel Chocolat has doubled its full year profit after investing in its British chocolate making capabilities and the opening of new stores.

FOOD & DRINK

Profits double at Hotel Chocolat

Hotel Chocolat has doubled its full year profit after investing in its British chocolate making capabilities and the opening of new stores.

In the year to 2 July, pre-tax profit climbed by 100% to £11.2 million while revenue increased by 12% to £105.2 million.

The company said it had seen strong growth across its retail, online and corporate channels.

During the period, Hotel Chocolat opened 12 new stores to take the total number of outlets to 94. The company said its new "shop+cafe" format is proving popular with customers.

Angus Thirlwell, co-founder and chief executive of Hotel Chocolat, said: "I am pleased to report another year of growth and good results. The Hotel Chocolat brand has continued to strengthen and we have made excellent progress with our three strategic priorities of investing further in our British chocolate manufacturing operations, growing our store estate and developing our digital offering.”

The company said it has further improved its Christmas ranges and expects to have its biggest ever seasonal offering during the coming festive season.

Looking ahead, Thirlwell added: "The market and wider economy may not be without challenges, but we still have significant addressable market headroom in the UK and benefit from having distribution and manufacturing directly under our control, which supports the resilience of our business. New ventures with online wholesale partners and a new international retail partner in Asia offer the potential to create new avenues for growth.”

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