Hotel Chocolat has seen its full year profit rise ahead of its board’s initial expectations after it benefited from its work to make the business a digitally-led brand.
In the 52 weeks to 27 June, pre-tax profit before exceptional costs climbed to £10.1 million from £2.4 million in the previous year. In addition, revenue increased by 21% to £164.6 million despite stores being closed or disrupted for six months of the period due to Covid-19 restrictions. However, the retailer said over 70% of its revenue came from digital, continuity products and partners in the period.
During the period, Hotel Chocolat continued to innovate by launching new Velvetiser flavours, enhanced gifting ranges, and a new Rabot Estate Coffee range of coffee.
Angus Thirlwell, co-founder and chief executive of Hotel Chocolat, said: “These results show we have now evolved from a UK store-led brand to a globally ambitious digital-led brand. 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.
