Thorntons expects full year profits to surpass expectations
July 02
09:48
2013
UK chocolatier Thorntons says it pre-exceptional profit before tax will be ahead of the £4.6m ($7m) market expectation as its commercial driven strategy appears to be paying dividends.
The company said its market share and margins had improved over the past two years as it also made sales gains.
The firm has been slimming its retail network over the last few years to concentrate on sales to third party retailers, its commercial channel.
Before the strategy change, the company’s profits were chopped by almost half in the face of the 2011 recession. Before the downturn, its 2010 pretax profits were £6.1m ($9.2m) .
Thorntons will issue a final quarter trading update on 15 July and will announce full year results on 11 September 2013.
