Hotel Chocolat posts upturn in financial results for 2018
British-founded confectionery group Hotel Chocolat has posted annual revenues up 13% to £80.7million, reporting strong sales across digital, retail and wholesale outlets.
The company, which recently found itself the focus of a behind-the-scenes Channel 5 documentary, has opened up 14 new stores in the past year, which contributed an additional 4% to its improved financial position.
Profits, after tax, were also up 10% to £10.8m, and EBITDA earnings also up 10% to £17.3m for the group, with the company receiving a strong boost from newly-launched stores in New York and Tokyo, which were reported to have performed well.
Angus Thirlwell, Co-founder and Chief Executive Officer of Hotel Chocolat, welcomed the figures for last year, which came as the company continued to expand its range of flavours within its portfolio.
He said: “This has been another period of progress for the company 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.
“Growth in the UK continued to deliver improvements in profitability which have enabled us to invest in the launch of 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.
“I would like to thank everyone in the team for their dedication in delivering another successful Christmas. “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.”