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Hotel Chocolat first-half profit climbs on 'strong' sales growth; to reopen stores from 12 April
StockMarketWire.com
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Chocolatier group Hotel Chocolat reported a rise in first-half profit on 'strong' sales growth, with online sales helping to offset the closure of its retail stores following government imposed Covid-19 restrictions.
For the 26 weeks ended 27 December 2020, pre-tax profit was up 3% to £15.5 million year-on-year as revenue was up 11% to £101.9 million.
UK sales grew by 12% driven with online growth more than offsetting reduction in physical retail sales caused by closures during lockdown and tier 4 restrictions, the company said.
Japanese joint-venture's sales to consumers grew 228%.
Overheads reduced as a percentage of sales fell 160 basis points, mitigating the additional variable costs from increased digital and wholesale channel mix.
Looking ahead, the company said trading has continued to be in line with the board's expectations.
'As per recent UK government guidelines, from 12th April we expect to begin re-opening our UK physical locations, with appropriate Covid-19 secure measures in place,' it added.
At 9:49am: (LON:HOTC) Hotel Chocolat Group PLC share price was 0p at 365p
Story provided by StockMarketWire.com
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