Hotel Chocolat hits record low after flagging statutory FY loss

Hotel Chocolat

19/07/2022 08:46

** Shares in British chocolatier Hotel Chocolat Group
 HOTC.L  slump as much as 40% to hit a record low of 140p 
    ** Stock set to post its worst day, if losses hold
    ** Co flags statutory loss in FY22 hurt by an internal
business review leading to non-cash impairment provisions  urn:newsml:reuters.com:*:nRSS8895Sa
    ** HOTC says it sees increase in costs due to discontinued
operations, including closure of retail stores in the U.S.
    ** Co also sees lower sales growth in the short term and
transitional costs leading to lower profits in FY23 
    ** Including session moves, stock down 71% YTD


 (Reporting by Sinchita Mitra in Bengaluru)
 ((Sinchita.mitra@thomsonreuters.com))