Hotel Chocolat Group PLC (AIM:HOTC) said trading is expected to be "marginally ahead" of management’s previous expectations for the current year.
The self-styled chocolatier said group revenue in the 13 weeks to Boxing Day — the second quarter of the group’s financial year — was up 37% year-on-year and 63% higher than in the same period of (pre-pandemic) 2020.
For the first half of the current financial year, revenue was up 40% year-on-year and 56% higher compared to two years earlier.
In the UK, sales grew 38% year-on-year in line with the growth in active customers. In the US, sales soared 128% with the active customer base increasing by 119%. In Japan, the base of customers doubled resulting in growth of 131% in sales at the group’s joint venture.
“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,” said Angus Thirlwell, the co-founder and chief executive officer of Hotel Chocolat.
“All of our six 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,” he added.
The board expects to announce results for the six months ended 26 December 2021 on 2 March 2022.