Hotel Chocolat nudges up profit forecast after festive sales rise

The chocolate specialist reported total group revenue up 63% on a two-year basis in the second quarter to December 26. That brought total revenue growth in the first half of 56% by the same measure.

The core UK market grew by 38%, the US by 128% and Japan – a joint venture – by 131%.

Hotel Chocolat co-founder and chief executive Angus Thirlwell said: “These results demonstrate that the Hotel Chocolat brand is connecting with more customers, as we invest continually in new product creativity, driving growth across channels and categories, and in our ‘gentle farming’ initiative supporting cacao-farming families.

“All of our growth drivers are behind the acceleration in sales: Velvetiser in-home drinks system, VIP loyalty rewards and digital, whilst the USA, global wholesale and the Japan joint venture are finding the formula for sustained growth and our UK domestic market still has huge potential.

“Our Velvetiser in-home drinks system was a star performer during the period. The majority of our subscription customers are now coming from our popular hot chocolate and coffee machines and drinks.

“We invested in refreshing our key chocolate gift ranges in the period and that resulted in an immediate and strong uplift in sales, particularly the higher price-point categories.

• Newly listed kitchenware specialist ProCook has posted a like-for-like sales rise of 104% on a two-year basis for the 12 weeks to January 9.