Hotel Chocolat revenue smashes £90m thanks to new stores

Hotel Chocolat Angus Thirwell

Hotel Chocolat has recorded “strong” half-year sales thanks to new store openings in the UK and internationally.

In the 26 weeks to December 29, the confectionery retailer saw its revenue rise 14 per cent to £91.7 million.

Pre-tax profits increased by seven per cent to £14.9 million for the period.

Meanwhile, underlying EBITDA increased seven per cent to £18.5 million, up from £17.3 million the previous year.

During the period Hotel Chocolat opened nine new locations in the UK, two in the US and three in Japan, which contributed to a three percentage point rise in sales growth.

“While our new markets in the US and Japan are still in the early stages of development, consumer response to the brand is encouraging, sales are growing and we believe we have a deliverable plan to achieve attractive returns,” Hotel Chocolat chief executive Angus Thirwell said.

“Our VIP loyalty scheme continued to grow strongly and contributed to double-digit EBITDA growth from our physical UK locations.

“Our strong growth came from a wider variety of sales channels than in previous years, which led to some initial challenges in our supply chain.

”We are now making good progress with investments and upgrades in our supply chain, which will fully address these inefficiencies and increase our international and multichannel supply capability, ensuring we continue to deliver profitable growth.”