UK's Hotel Chocolat slumps on gloomy outlook

Hotel Chocolat

23/06/2023 08:25

** Shares of British luxury chocolate maker Hotel Chocolat
 HOTC.L  down as much as 17% at 115.2p, hits lowest level in
nearly a year
    ** Forecasts FY24 sales and underlying profit before tax to
be lower than current market expectations 
    ** Says ongoing weakness in consumer sentiment and
inflationary pressures continue to bite profit
    ** Sees to report FY23 underlying marginal loss before tax,
hurt by slower impact of its cost savings initiatives in H2
    ** "The swift bounce-back that management was so confident
about is set to take longer than hoped"- Peel Hunt
    ** Shares down ~10% YTD, so far this year

    
   


($1 = 0.7865 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))