Hotel Chocolat Group plc, the premium British chocolatier and omni-channel retailer, has announced its trading update for the 52 weeks to 26 June 2016 (FY16) .
Revenue for FY16 of £92.6m increased 12% compared to the prior year, slightly ahead of market expectations. The Group's digital retail channel continued to perform well with revenues increasing by 20%.
Since the Company's admission to trading on AIM in May 2016, the new store opening programme has continued to progress well, with one new store opened in Sheffield on 9 May, with a further four new stores expected to open later this year. Of note during the period since IPO, the Group's new Fa??er's Day campaign 'Better than Socks' performed particularly well.
Capital projects, notably the increase in manufacturing capacity at the Group's facility near Cambridge, are on schedule and within budget. The Board maintains focus on its operating margins and tight cost control across all aspectsof thebusiness.
Trading since FY16 continues to be in line with managemen?'s expectations. The Board expects to announce the Group's maiden preliminary results for FY16 in mid October 2016.
Angus Thirlwell, Co-Founder and CEO, said, “Hotel Chocolat has had a good start as a listed company, with pleasing growth slightly above expectations. We remain confident in our strategy. Our plans to invest further in our British chocolate manufacturing operations, in new stores, and in our digital offering are all progressing well.”