Hotel Chocolat UK profit jumps 56% on growing brand appeal

LONDON (Reuters) – British chocolate maker Hotel Chocolat reported a 56% rise in first-half profit on Wednesday as its brand appeal grew in its home market of the United States and Japan.

For the six months to December 26, the luxury chocolate maker, retailer and wholesaler made a pre-tax profit of 24.1 million pounds ($32 million), up from 15.5 million pounds a year earlier, on revenues up 40% to 142.9 million pounds.

Hotel Chocolat sells its products online and through sites in the United Kingdom, Japan and the United States. He also owns an organic cocoa farm, hotel and tourist attraction in Saint Lucia, and a chocolate factory in Cambridgeshire, eastern England.

The company said inflationary pressures had eased, with profits rising faster than sales.

So far, trading in 2022 has continued to be in line with Board expectations.

“The UK’s multi-channel performance remains encouraging and new markets continue to show promising potential for growth and profitability,” said CEO Angus Thirlwell, who co-founded the company in 1993 and owns 27% of the capital. .

Shares of Hotel Chocolat, up 21% on a year ago, closed at 450p on Tuesday, valuing the company at 622 million pounds.

($1 = 0.7532 pounds)

(Reporting by James Davey; Editing by Mark Potter)