Hotel Chocolat Records Strong Annual Revenue Growth
The UK-based Hotel Chocolat group has recorded revenues of £132 million for 2019, with figures up 14% year-on-year.
As the company noted, it expected profit before tax to be in line with market expectations, as the company continues to expand its product range across its stores.
The company said that it had opened 16 Hotel Chocolat locations in the year contributing five per cent to group sales performance year-on-year. Two of the new openings were in the USA.
In addition to the above openings, the business entered into a joint venture in Japan which opened two locations in Tokyo. Trading since FY19 continues to be in line with management’s expectations.
Speaking to Confectionery Production recently, Angus Thirlwell, co-founder and chief executive Officer of Hotel Chocolat, believed there were encouraging signs within the business, as it continues to expand its store locations.
On the financial results, he said: “I’m really pleased with our performance this year, delivering strong growth across all parts of the Hotel Chocolat multi-channel, direct-to-consumer model. New activities in the year included openings in the US and Japan; the launch of the Velvetiser – our in-home drinking chocolate system; and the introduction of our VIP ME rewards card scheme, all of which present substantial future growth opportunities.
“Our pace of innovation is relentless. In our drinks and ices range we are seeing the most prolific new product Instagramming in our history, with Billionaire’s Sundaes, Choc Shakes and Vegan Chocolate-Dipped Lollies generating lots of excitement”.