Thorntons issues profit warning

Chocolate maker Thorntons has issued a profit warning- blaming weak consumer confidence and high levels of marketing competition activity.Chocolate maker Thorntons has issued a profit warningIt is still that it will break even in the 53 weeks to 30 June 2012.

But that figure excludes exceptional items and what it calls “onerous leasing charges”.

Having to make lease payments on closed stores was one of the factors blamed by Thorntons for its loss in the last financial year.

In September, the company reported a loss of £253,000 for the year to 25 June 2011, compared with a profit of £4.4 million the previous year.

The loss came despite revenues being up slightly at £218.3 million.

In its latest statement, Thorntons said that profits for the current financial year would “fall short of current expectations”.

The company is in the middle of a strategic review of the business, which will involve closing 180 shops over three years.

Thorntons will issue another trading update on 12 January 2012.

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January 4, 2012 · Home Based Jobs · 2 Comments
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2 Responses

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