StockMarketWire.com - British chocolatier Hotel Chocolat reported a 3% rise in annual revenue as weaker second-half performance owing to the pandemic, offset growth in the first half of the year.

In the first half of the year, sales rose 14%, but fell 14% in the second half, taking the total annual revenue to £136m.

Sales in High Street locations were performing more strongly than in city-centre commuter locations.

Whilst total sales from physical locations were lower year-on-year, digital growth remained very strong and sales since the end of the period remained in line with management expectations, the company said.

'A similar pattern has been seen in both the USA, and in Japan, which is operated by a joint-venture partner,' it added.

The company said 119 of 125 UK locations were currently open for business.

Looking ahead, the company anticipated underlying pre-tax profit to be in line with expectations.

'This review may give rise to a higher than historic impairment charge, but any such adjustment will be a non-cash charge and will be confirmed at the release of preliminary results, scheduled for 29 September 2020,' it added.


At 8:32am: [LON:HOTC] Hotel Chocolat Group PLC share price was +7.5p at 287.5p



Story provided by StockMarketWire.com