High Street

Hotel Chocolat profits hit £10.1m in FY21

Revenue increased 21% to £164.6m from £136.3m in 2020, with 70% of revenue in the year generated through UK digital, partners and continuity, which compares to 41% in the prior year

Hotel Chocolat has welcomed “better than expected” results for the year ending 27 June 2021, with pre-tax profits reaching £10.1m, up from £2.4m the previous year.

Revenue increased 21% to £164.6m up from £136.3m in 2020, with 70% of revenue in the year generated through UK digital, partners and continuity, which compares to 41% in the prior year.

During the period, the group was also able to repay the £3.1m support received from the UK government’s Coronavirus Job Retention Scheme.

In its latest results, the group noted that ​investments over the period have increased its production capacity by 66%, enough to support around £250m of chocolate sales per year.

Meanwhile, an additional equity placing in July raised £40m to fund further factory expansion and growth channels for the group, which will reportedly support £500m chocolate sales in three years.

Angus Thirlwell, co-founder and CEO of Hotel Chocolat, said: “FY21 was a year where Hotel Chocolat improved on many fronts. Our digital and subscription-continuity models surged ahead and our global aspirations racked up more strong growth and progress.

“I am incredibly proud of how Hotel Chocolat has adapted to the disruption caused by Covid-19 and I would like to also thank our customers for their continued loyalty, and our partners for their collaboration.”

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