Christmas was sweet for Thorntons

This Is Money13 April 2012

CHOCOLATE maker Thorntons today said strong demand from supermarket shoppers kept its sales revival in place over the Christmas period. Sales of confectionery to other retailers almost trebled in the 28 weeks to 8 January, rising by £9.8m to £13.4m and helping to overcome sluggish sales at its own stores.

Total group sales were up 9.5% on a year ago at £119.7m, although sales at its 377-strong chain of Thorntons branded stores fell 0.3%.

Christmas was weaker than a year ago with like-for-like sales at its High Street shops down 0.5% in the first four weeks of December but ahead by 0.8% over the period.

Thorntons chocolates are sold in Tesco, Sainsbury's and Morrisons supermarkets and High Street retailers such as WH Smith and Woolworths.

Chief executive Peter Burdon said the strong sales growth would not force a rethink on its decision not to supply branded Easter eggs to retailers this year. A warm Easter could encourage supermarkets to slash the prices of chocolate eggs and Burdon said: 'We don't want to get involved in that kind of bloodbath.'

Chairman Christopher Burnett said: 'Based on our expected interim results, and barring any unforeseen circumstances, we would anticipate the results for the full year to be in line with management's expectations.'

House broker Numis is looking for profits of £8.3m for the 12 months to the end of June, compared with £7m a year earlier.

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