(Alliance News) - Hotel Chocolat Group PLC on Tuesday reported "another year of significant progress", with double-digit growth in both profit and revenue.
The chocolatier's pretax profit for the year to June 30 was GBP14.1 million, 11% higher year-on-year, and excluding the US the figure jumped 19%. Hotel Chocolat's revenue rose 14% to GBP132.5 million.
This profit growth, Hotel Chocolat said, was "slightly" ahead of expectations.
The company has been investing into expanding US operations, leading to a GBP1.2 million drag on profit. The US business is currently proceeding to plan, the firm said, with two new stores opening during the year.
Hotel Chocolat is paying a final dividend of 1.2 pence per share, taking the year's total to 1.8p, up from 1.7p the year before.
Chief Executive Angus Thirlwell, who also co-founded Hotel Chocolat, said: "I am pleased to report another year of significant progress for the group with profit growing slightly ahead of expectations. In the UK, our physical locations performed well, reflecting their allure and relevance.
"Growth was underpinned by the combination of leisure, gifts and experiences including Chocolate Lock-in tastings, as well as new ranges of drinks and chocolate-dipped ice lollies. The launch of the innovative Velvetiser, our in-home hot chocolate system, supported strong sales growth and received fantastic customer reviews. Our new VIP ME loyalty scheme attracted over 900,000 active members during the period and we continued to bring new and exciting products to market."
Thirlwell is confident overseas expansion will continue to develop well, with the company's main focus at the moment being in both the US and Japan. The first store in Japan opened in November last year in Tokyo.
Looking ahead, Hotel Chocolat is confident on future progress despite continued uncertainty both politically and economically in the UK. Trading since June has met expectations, it added.
Shares were 2.7% higher on Tuesday morning in London at a price of 380.00 pence each.
By George Collard; georgecollard@alliancenews.com
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