Hotel Chocolat has reported a sales rise spurred by product innovation in what boss Angus Thirlwell described as a “year of significant progress”.
The confectionery specialist posted an 11% rise in pre-tax profit to £14.1m in the 52 weeks to June 30, driven by a 14% rise in revenue to £132.5m.
The retailer opened 14 new stores across the UK and ROI during the year as well as two new US stores and the launch of its joint venture in Japan.
Hotel Chocolat signed up 900,000 members to its VIP Me loyalty scheme in the year as its Velvetiser hot chocolate machine spurred sales and rave product reviews.
The specialist retailer also plans to bolster its experiential store credentials with the roll-out of drinks, ice creams and other in-store activities to more locations.
Chief executive and co-founder Angus Thirlwell said: “I am pleased to report another year of significant progress for the group with profits 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.
“Profit from existing group operations increased faster than sales growth, enabling us to invest in new markets. We are confident that our international expansion will continue to develop well. Our focus on USA and Japan, two of the three largest economies in the world, led to four locations opening, with a further five opening over the next six months.
“The brand, what it stands for, and our More Cacao Less Sugar taste have proven attractive in Tokyo and New York, as well as our refreshing price versus quality ratio.”
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