Hotel Chocolat sees profits double

Hotel Chocolat sees profits double

The opening of 12 new stores and a £4m investment into expanding its truffle production has paid off for the group.

Hotel Chocolat saw pre-tax profits double during the year ended 2 July 2017, rising from £5.6m to £11.2m.

The leading chocolatier and cocoa grower also saw revenues rise by 12% year-on-year to £105.2m from £91.1m.

The group opened 12 new stores over the course of the year and also invested £4m into improving its truffle making production line.

Angus Thirlwell, co-founder and chief executive officer, said: "I am pleased to report another year of growth and good results.

“The Hotel Chocolat brand has continued to strengthen and we have made excellent progress with our three strategic priorities of investing further in our British chocolate manufacturing operations, growing our store estate and developing our digital offering.

"All our channels are growing. In retail, the new Shop+cafe format is proving popular, our new website has improved conversion on mobile devices and since the year-end, we have signed six new wholesale accounts that will make it easier for consumers to buy Hotel Chocolat products.

"Given the encouraging performance of our retail and internet channels, along with the pipeline of opportunities ahead of us, we are confident of further growth. This of course depends on the availability of suitable sites.

“We have further improved our Christmas ranges and this year will be our biggest ever seasonal offering."