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Thorntons PLC first-half pretax profit increases on higher commercial sales

Reuters
February 26, 2013, 12:15 am TWN

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Reuters--British chocolate group Thorntons PLC, which has been struggling with lower demand, reported a 71-percent rise in pretax profit for the first half on higher commercial sales.

Consumers have been reluctant to loosen their purse strings in the face of rising prices, subdued wage growth and high unemployment, prompting Thorntons to close its high street stores and focus on its online business.

Sales rose 3 percent to 133.7 million pounds (US$204.1 million) in the 28 weeks ended Jan. 12. Sales in the commercial UK channel rose 16 percent to 51.8 million pounds.

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