British premium company Hotel Chocolat has announced a 13% increase in revenue up to £80.7m from £71.7m on the previous year.
The company made a profit of £10.8m after tax, an increase from the previous financial year’s profit of £10.1m in 2018 in its first half-year (H1) results.
Angus Thirlwell, co-founder and chief executive officer of Hotel Chocolat, said: “This has been another period of progress for Hotel Chocolat with strong growth in sales, profits and cash generation. The critical Christmas period was again successful, supported by the launch of our new and innovative Velvetiser Hot Chocolate maker and by a deepening relationship with our customers via the new VIP Me scheme. Both developments will also support our plans for the key spring seasons of Mother’s Day and Easter.
Thirlwell said growth in the UK continued to deliver improvements in profitability. Hotel Chocolat has plans to open 14 new stores across the UK and Republic of Ireland and the company has also invested in two new start-ups in New York and Tokyo, “both of which are showing encouraging early signs, in terms of customer response and the initial store sales performance”
“Recent trading, including the Valentine’s period, is in line with the Board’s expectations and we continue to make good progress against our key strategic objectives of opening more stores, improving our digital capability and increasing our production capacity whilst testing and learning in two large new territories,” Thirlwell said.