Chocolate retailer Thorntons has described a 70% rise in half-year profits as an “important step” in the company’s turnaround push.
The improvement to £5.3 million for the six months to January 12 followed a big jump in supermarket sales of chocolate boxes as it looks to offset tough trading conditions for its retail estate.
Chief executive Jonathan Hart said there was still much for the retailer to do, particularly with it facing key tests for Mother’s Day and Easter.
The company is pinning its hopes for this spring on improved presentation and marketing and greater space for its long-running Continental range.
Revenues rose 2.9% to £133.7m, with an 8% decline in own-store sales to £62.6m after the closure of 13 stores offset by a 16% improvement in sales from commercial channels.
Thorntons ended the half year with 317 stores but expects to close about 40 across the year to June.
