Hotel Chocolat Profit jumps 56% on growing brand appeal

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British chocolatier Hotel Chocolat reported a 56% increase in first-half profits as its brand’s appeal grew in its home market of the United States and Japan.

In the six months to December 26, the luxury chocolate maker, retailer and wholesaler made a pre-tax profit of £24.1m (€28.9m), down from £15.5m (18.6 million euros) a year earlier, on revenues up 40% to £142.9 million (171.6 million euros).

Hotel Chocolat sells its products online and through sites in the United Kingdom, Japan and the United States. He also owns an organic cocoa farm, hotel and tourist attraction in Saint Lucia, and a chocolate factory in Cambridgeshire, eastern England.

The company said inflationary pressures had eased, with profits rising faster than sales.

Trade in line with expectations

So far, trading in 2022 has continued to be in line with Board expectations.

“The UK’s multi-channel performance remains encouraging and new markets continue to show promising potential for growth and profitability,” said CEO Angus Thirlwell, who co-founded the company in 1993 and owns 27% of the capital. .

Shares of Hotel Chocolat, up 21% on a year ago, closed at 450p on Tuesday, valuing the company at £622m (€746.8m).

In 2020, the British chocolate maker increased its banking facilities to help it weather the coronavirus crisis. The company said it had agreed a £35m (€42m) revolving credit facility with Lloyds Bank, replacing a £10m (€12m) overdraft. euros).

Reuters News, additional reporting from ESM- your source for the latest A-Brands news. Click subscribe to register ESM: European Supermarket Magazine.

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