Chocolate maker and retailer Hotel Chocolat (LON:HOTC) managed to replace a large part of the loss in high street sales by online revenues. However, profit has been hit by higher costs.
The 2019-20 pre-tax profit is expected to be just over £2m, which is well down on the previous year’s figure of £14.1m. profit growth had been forecast earlier in 2020.
Second half revenues fell by 14% with the poor performance in the fourth quarter. Easter trading was hampered by the lockdown. When the stores were closed and online was the only source of business there was enough of a transfer of demand ...
