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Thorntons PLC (THT)

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Wednesday 09 October, 2013

Thorntons PLC

Trading Statement

RNS Number : 0460Q
Thorntons PLC
09 October 2013
 



  

THORNTONS PLC

("Thorntons" or "the Company")

FIRST QUARTER INTERIM MANAGEMENT STATEMENT

 

Thorntons today reports an increase in total Company sales to £47.0 million for the 14 weeks up to and including 5 October 2013, an increase of 2.1% compared to the same period last year.

 

 

Sales £m

Q1

14 Weeks to

5/10/2013

Change

%*

FMCG Division

23.8

+11.0%

Retail Division

23.2

(5.7)%

Total Company

47.0

+2.1%

 

FMCG Division 

Divisional sales increased by 11.0% to £23.8 million reflecting continuing strong demand from our commercial partners:

·       UK Commercial sales rose by 11.2%.

·       International sales increased by 36.1%, although this remains a small part of overall sales.

 

Retail Division

Divisional sales declined by 5.7% to £23.2 million as we closed eight stores in the period resulting in 288 Own Stores at the end of the quarter.

·       Like for like sales decreased by 0.4%.

·       Consumer Direct sales returned to growth, increasing by 14.2%, although this also remains a small part of overall sales.

·       Franchise sales improved by 17.3%.

 

Jonathan Hart, Thorntons' Chief Executive, commented: 

"We are pleased with the performance of both our operating divisions in the first quarter, and we have made further good progress in rebalancing revenues towards our FMCG division.  We have an exciting Christmas offer across the business and are encouraged by the strong order book within our FMCG division.  This puts us in a good position ahead of the key Christmas trading period.

 

"While we remain mindful that the economic conditions are still challenging for many of our customers, our current outlook for the financial year remains in line with market expectations." **

 

 

For further enquiries please contact:

Nadja Vetter / Georgina Hall, Cardew Group.                                                                               T: 020 7930 0777

 

*   Due to divisional restructuring of Thorntons Direct, elements of which are now integrated into the FMCG Division, the 2012 comparative figures for the Retail Division have been reduced by £0.3m, with a compensating adjustment in FMCG division.

**             £7.2m pre-exceptional PBT as reported on Morning Star 8/10/13.

 

This document contains certain statements that are forward-looking statements. They appear in a number of places throughout this document and include statements regarding our intentions, beliefs or current expectations and those of our officers, Directors and employees concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this document and, unless otherwise required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements. Nothing in this document should be construed as a profit forecast. The Company and its Directors accept no liability to third parties in respect of this document save as would arise under English law.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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