Rocky Mountain Chocolate Factory has posted a 17% jump in profits over the last 12 months.
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For the year to the end of February, the US gourmet chocolate producer reported net income of US$4.7m, on revenues up 12.5% at $31.6m.
Total pounds of confectionery products purchased from the factory by franchisees increased by 6% in the 2007 fiscal year, the company said, but this was attributed to a net increase of 18 in total store numbers.
Same-store pounds purchased from the factory fell by 2.6%, while comparable sales at franchised stores were unchanged, the company added.
“We are very pleased to report another year of impressive net income growth,” said COO Bryan Merryman.
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By GlobalDataMerryman added that franchisees had opened 37 stores during the year, increasing the total number of Rocky Mountain Chocolate Factory locations in operation to 322.
He said the company expects franchisees to open between 35 and 40 stores in the current fiscal year, and net income to increase by 15% to 20% if current business and economic trends continue.
For the fourth quarter, the company posted a 10% increase in revenues to $8.9m, with net earnings rising by 34% to $1.4m.
