Thorntons’ results unwrap sales up 1.7% in tough trading

By Mike Stones

- Last updated on GMT

Related tags: Business, Thorntons

Thorntons’ results unwrap sales up 1.7% in tough trading
Confectionery firm Thorntons has announced overall sales growth of 1.7% to £218.3M and a 7.7% share of the UK chocolate market in its latest results covering its financial year to June 25 2011.

Jonathan Hart, Thorntons' chief executive, said: "In the year that marks the Centenary of Thorntons, I am pleased to report record overall sales, despite the challenging retail environment.”

Sales suffered from poor weather before Christmas and the hottest Easter on record, he said.

Extremely difficult

John von Spreckelsen, the firm’s chairman, described trading conditions as “extremely difficult".

But the firm’s recent business restructure will stand the business in good stead, he said. “We have concluded that we can profitably and sustainably manage an own store estate of between 180 and 200 stores. In light of this, over the next three years we plan to close up to 180 of our own stores. In the majority of these locations, however, we plan to open franchises​.”

Profit before tax and exceptional items was £4.3M compared with £6.9M last year.

More follows.

Related topics: Confectionery

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