Thorntons announces its interim results
At the end of last month, Thorntons Plc announced its interim results for the 28 weeks ended 12 January 2008. According to the information provided, the company’s revenues lay at £126.7 million, an increase of 13.9% compared to the year before. Profit before tax, which was put at £11.9 million, increased at practically the same rate, namely by 14%.
Mike Davies, chief executive at Thorntons, commented on these results, saying “Thorntons continues to make good progress across all channels and has now delivered sales growth for five consecutive quarters. We remain focused on strengthening our brand proposition, product innovation, in-store developments and customer service.”
Furthermore, franchise sales increased by 18.6% to £9.6 million during the same period. 34 new franchisees joined the network during the six months with the majority of the new stores being set up in smaller towns across the UK. The company currently has a total of 252 franchise-run stores.
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