Belfast Telegraph

Friday 25 July 2014

Sweet treat declared by Thorntons

Chocolate retailer Thorntons has upgraded annual profit forecasts after decent Easter trading kept its turnaround on track.

The retailer said trading over its key Easter, Valentine's Day and Mother's Day trading periods was "satisfactory", helping it offset tough conditions.

Thorntons shares soared as much as 10% as the group said it expects underlying pre-tax profits for the year to the end of June to beat forecasts for £3.1m.

However, the group, which trades from more than 300 owned stores and around another 190 franchises, said it remains cautious on the economy and consumer spending.

In 2011 the chocolatier was hit by the consumer spending squeeze and intense competition from supermarkets.

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