Chocolatier Thorntons taste success as profits surge

Posted by Unknown on Wednesday, September 10, 2014


This also involves online shopping as the company looks to have its products “available wherever, whenever and however our customers choose to shop”.


Revenues in the FMCG division – which consists of UK commercial, private label and international – rose 7.8pc to £111m over the year to June 28, meaning they now account for almost half of total sales, a ratio which is expected to grow as the company rebalances.


In the retail division, which covers sales made in Thorntons’ own stores, direct sales to consumers and through franchises, total sales fell 5.6pc to £111.4m, but rose 1.1pc on a like-for-like basis, the best performance in six years.


The company also said the rising price of cocoa over the past year had impacted its operations, forcing Thorntons to increase its prices during the spring.


Looking to the coming year, the chief executive said he expected sales through Thorntons’ commercial channel to continue to rise, though at a slower level than last year because of strong comparatives and a weak first quarter performance.


However, he said the company should improve its earnings before interest, tax and depreciation margin from the current level of 4.5pc, and that Thorntons expects full-year profits before tax and exceptionals to be in line with market expectations, currently at £9.65m.


For a third year the company will not pay a dividend.





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