Hôtel Chocolat: shares soar with the digital boom

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HOTEL Chocolat’s Stocks jumped more than 10% yesterday as they posted solid earnings growth over the past year, suggesting the chocolatier’s backbone to becoming a digital brand is moving forward.

Income increased by more than 20 percent, which Walid Koudmani, a market analyst at financial brokerage firm XTB, said “encouraging signs for its growth drivers were put in place two years ago.”

The brand noted that about 70% of its revenue for the 52 weeks through June 27 came from digital feeds, as well as partners and continuity products.

Despite closing stores for about six months of the year in response to emergency pandemic measures, the group posted pre-tax profit “ahead of market expectations.”

The group reported underlying pre-tax profits of £ 10.1million as of June 27, up from £ 2.4million the year before.

On a statutory basis, the group recorded a profit before tax of £ 7.8million on losses of £ 7.5million the previous year.

Koudmani added, “Going forward, it will be important to stay consistent while adjusting to the challenges of supply shortages and as stores continue to reopen. “

The brand said its investments had succeeded in increasing production capacity by 66%, which is “enough to support £ 250million in chocolate sales” each year, she said in a statement. A stake in July also saw the chocolatier raise £ 40million to bolster its network of factories – which it says will support £ 500million in chocolate sales over three years, while also helping it. to become a “digitally led” chocolatier.

CEO and co-founder Angus thirlwell said: “These results show that we have now gone from a UK from a store-led brand to a globally ambitious digital brand.

“I am convinced that the strategic advancements we have made over the past year have improved the performance and prospects of the company for years to come.”

(c) 2021 City AM, source Newspaper


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