Hotel Chocolat beats expectations

Hotel Chocolat (LON:HOTC) made a slightly better than expected profit last year, but the chocolate maker and retailer is likely to lose money this year. Online demand has increased by 150% so far this year. In the year to June 2020, Hotel Chocolat made an underlying pre-tax profit of £2.4m, down from £14.1m, on revenues 3% ahead at £136m. Second half revenues fell by 14% - reflecting disruption to Easter trading. There is growth in online sales, and they will remain more important than in the past. This indicates the strength of the brand. VIP members increased by 50% to 1.3 million. Managemen...