Thorntons half year profits up by a quarter

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Wednesday, February 17, 2010
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This is Derbyshire

DERBYSHIRE chocolate-maker Thorntons has reported a 25% rise in half-year profits.

The Somercotes firm this morning announced that pre-tax profits for the 28 weeks to January 9 rose to £9.1m after the company decided to avoid heavy discounting in the run up to Christmas.

As a result, overall sales fell by 0.7%, but sales of Thorntons-branded products went up 5.5%.

The firm, which has around 380 stores and employs around 4,000 people, is now hoping to continue its momentum by launching new ranges to help summer trading.

Chief executive Mike Davies said: "We expect to be able to continue to improve our performance in the second half, which is historically loss-making."

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