UK chocolate producer Thornton’s today [Tuesday] reported a 9.2% rise in first half pre-tax profits to £10.3m (US$14.7m), up from £9.4m in the same period last year. Turnover reached £102.4m.
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Valentine’s Day sales rose 4%, an important indicator of consumer confidence. In the first five weeks of the second half, like-for-like sales rose by 2.6%, including Valentine’s Day sales.
The group is midway through a three-year turnaround plan after suffering the effects of an excessively ambitious expansion strategy and high stocks. Chief executive Peter Burdon said the performance in the first half clear indicated that the business had been stabilised.
Shares rose by £0.05 on the news of the strong set of results.
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