Hotel Chocolat - delicious results but what about the valuation?
The premium British chocolatier has announced excellent full year results. There is no questioning the appeal of its products and strong brand value but are the shares good value at current levels? Our updated research here takes a closer look.
We called Hotel Chocolat (AIM:HOTC), the IPO of 2016 and the shares are up 153% since listing. Our original Premium Research note, which you can read at the link here, took a closer look at this highly rated offering and commented on one unsavoury element of the IPO process. A quick reminder of The Group’s journey to AIM Hotel Chocolat was co-founded in 1993 by Angus Thirlwell (Chief Executive) and Peter Harris (Development Director) and has traded under the Hotel Chocolat brand since 2003. Today’s premium offering actually began with Angus and Peter selling mints direct to corporate customers in…