FDBusiness.com

Profit Warning From Thorntons

 Breaking News
  • Cargill’s European Poultry Business Expands into Poland Cargill has agreed to acquire Konspol, one of Poland’s leading value-added food companies, providing an array of products in the chilled convenience, frozen and cold cut categories. This acquisition marks the introduction of Cargill’s global protein business into the Polish market and strengthens the company’s global poultry footprint, expanding operations to 14 countries. Under the agreement, [...]...
  • Social Enterprise ‘Brewgooder’ Secures Biggest Ever Listing Scottish beer brand ‘Brewgooder’ has secured a new UK listing with Tesco that will significantly advance its mission to bring clean water access to one million people. Representing its biggest ever listing deal to date, the agreement will see the social enterprise supply single bottles of its popular Clean Water Lager to 481 Tesco stores [...]...
  • First Clean Label Liquid Margarine Bunge Loders Croklaan is launching Delica Pro Gold, its new, next-gen liquid margarine. The plant-based, clean-label margarine has been developed for artisanal and industrial bakeries. Delica Pro Gold is a liquid, non-hydrogenated margarine without E-numbers and contains no artificial colors or flavors. This innovative fat formula has exceptional functionality. “The real challenge was to create a liquid margarine [...]...
  • Global Aseptic Packaging to Grow 16% by 2022 The world market for aseptically packed products amounted to 152 billion litres in 347 billion packs during 2017, according to the new Global Aseptic Packaging report from leading food and drinks consultancy Zenith Global and packaging experts Warrick Research. Volumes have risen by 2.7% a year since 2012, with South East Asia achieving the fastest [...]...
  • Lactalis Expands in Infant Nutrition With €740 Million Acquisition Lactalis Group, the international dairy group based in Laval, France, is acquiring the Nutritional business of Aspen Pharmacare for €739.8 million (R12.9 billion). The business being acquired supplies a wide range of infant nutritional and growing-up milk products across both the premium and value segments. It manufactures and markets well established quality brands, including S-26, [...]...

Profit Warning From Thorntons

Profit Warning From Thorntons
December 22
09:44 2011

Thorntons, the UK confectionery manufacturer and retailer, has warned that profits for its full year will fall short of expectations. Citing continued weakness in consumer sentiment and high levels of promotional activity in the market place, the board of Thorntons expects that profit before taxation, exceptionals and impairment and onerous lease charges will be around break even for the 53 weeks ending 30th June 2012.

 

Thorntons reported a 37.3% plunge in profit before taxation and exceptionals to £4.3 million for the 52 weeks ended 25 June 2011, despite increasing sales by 1.7% to £218.3 million. The company is currently in the process of restructuring its own stores business to achieve an estate of between 180 and 200 outlets, located primarily in the top 150 retail locations. This will involve taking advantage of the 179 lease expiries over the next three years to close around 120 stores and exploring opportunities to close a further 60 stores in weak locations over the same time frame.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
  • September 30, 2018Trade Fair for Butchers, Caterers and Meat Industry (Meat Expo)
  • October 1, 2018Poznan International Fair
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements