Hotel Chocolat FY revenue slightly ahead of market expectations

Revenues at AIM-listed Hotel Chocolat rose 12% in the year to 25 June as its new shop format bore fruit.

Revenue came in at £104m, which the company said was slightly ahead of market expectations. It opened two new stores in the second half of the year, bringing the total to 12 new stores in full-year 2017 which contributed 5% to its group sales year-on-year.

Of the 12 new stores, eight feature a café and Hotel Chocolat said the new shop and café format is working well. It added that the spring seasonal ranges delivered encouraging results and, following successful trials, its cocoa-infused ice cream known as Ice Cream of the Gods, is now on sale in 37 locations.

The group said trading since FY17 continues to be in line with management's expectations.

Co-founder and chief executive officer Angus Thirlwell said: "Hotel Chocolat has had another good year, with encouraging growth. We are excited about the progress made with our new shop+cafe format stores and our seasonal ranges continue to perform well."

At 0905 BST, the shares were down 1.7% to 330.25p.