Hotel Chocolat hungry for global expansion as profit rises
Hotel Chocolat has reported a mouthwatering set of full-year results, with increases in pre-tax profit and revenue, as the luxury chocolatier eyes up further global expansion.
Revenue rose 14 per cent to £132.5m, the company said, while pre-tax profit climbed 11 per cent to £14.1m.
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The chocolatier reported diluted earnings per share of 9.5p (up from 8.8p the previous year), and announced a final dividend of 1.2p, bringing its full-year dividend to 1.8p.
Co-founder and chief executive Angus Thirlwell said he was “pleased” with “another year of significant progress”.
Thirlwell said strong customer demand for Hotel Chocolat’s new “in-home hot chocolate system”, the Velvetiser, had boosted sales.
“In the UK, our physical locations performed well, reflecting their allure and relevance. Growth was underpinned by the combination of leisure, gifts and experiences including Chocolate Lock-in tastings, as well as new ranges of drinks and chocolate-dipped ice lollies,” he added.
The company opened 14 new stores in the UK and Ireland during the period, as well as two locations each in Japan and the US.
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Hotel Chocolat is hoping to take an even bigger bite of the global market, with an emphasis on the US and Japan. The chocolatier said it plans to open another five international outlets in the next six months.
The company’s shares were up 2.7 per cent to 380p in morning trading.