Brief: Hotel Chocolat to report statutory loss for 2022 after business review

Hotel Chocolat

19/07/2022 08:11

July 19 (Reuters) - Hotel Chocolat Group PLC  HOTC.L :
    * HOTEL CHOCOLAT GROUP  - TRADING UPDATE
    * FY REVENUE 226 MILLION STG
    * TOTAL GROUP REVENUE INCREASED BY 37% TO £226M (FY21:
£165M),
AHEAD OF MARKET CONSENSUS EXPECTATIONS
    * H2 GROWTH REMAINED VERY ROBUST AT 32%, AGAINST STRONGER
COMPARATIVES IN Q4 FY21
    * BOARD ANTICIPATES UNDERLYING FY22 PROFIT BEFORE TAX WILL
BE IN
LINE WITH MARKET CONSENSUS
    * STATUTORY REPORTED PROFIT FOR FY22 IS EXPECTED TO BE A
LOSS,
BEING AFFECTED BY OUTCOMES OF AN INTERNAL BUSINESS REVIEW
    * LOSS REFLECTS NON-CASH IMPAIRMENT PROVISIONS AND COSTS
ARISING
FROM DISCONTINUED ACTIVITIES INCLUDING CLOSURE OF RETAIL STORES
IN USA
    * WE EXPECT A TEMPORARY LOWER SALES GROWTH RATE AND PROFIT
MARGIN
FOR FY23 AS WE CARRY THROUGH OUR ADJUSTMENTS
    * EXPECTS A HIGHER PROFIT PERCENTAGE GROWTH IN FY24 AND FY25

Further company coverage:  HOTC.L