Hotel Chocolat shares soar on on 28 pc Christmas profit boost

Hotel Chocolat (LON:HOTC) delivered strong Christmas trading results on Wednesday, with a 28 percent profit boosting sending shares up over 5 percent.

Pre-tax profit rose to £11.2m in the first half of the luxury chocolatier’s financial year, with reported revenue rising 14 percent to £62.5 million.

Online sales were remarkably strong over the period, with the company’s balance sheet reaping the benefits of a “very successful” Christmas.

In a statement alongside the results, Hotel Chocolat said it was confident strong sales would continue into their upcoming key trading periods, Mother’s Day and Easter.

The chocolatier, who run both coffee shops and chocolate stores all over the UK, have seen shares rise 73 percent since it floated on the stock market in May of last year. The group opened a further 10 new stores during the period, contributing 4 percent to group sales year-on-year.

Angus Thirlwell, Chief Executive Officer of Hotel Chocolat said the brand had made “good progress” over the six months period, adding to both sales and profitability.

“The critical Christmas period was very successful, helped by good availability, popular and innovative new ranges and significantly increased digital transactions. We have strong plans in place for the key spring seasons of Mother’s Day and Easter and are confident of further progress”, he added.

Shares in Hotel Chocolat are currently trading up 6.55 percent at 271.98 (1058GMT).