Hotel Chocolat shares up after year end update

AIM-listed chocolatier and retailer Hotel Chocolat (LON:HOTC) has announced that revenues for the year ended 30th June were up by 14% and management believe that EBITDA will meet expectations. The firm opened 16 outlets over the period in the UK and the USA and also entered into a Japanese joint venture.

CEO Angus Thirlwell commented: “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“.

Hotel Chocolat’s share price rose by 2.66% to 364.45p (as of 13:00 BST).