UK chocolate maker Thorntons has issued an upbeat trading statement for the first quarter of its financial year, with sales climbing by over 28%.
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The London-listed firm said sales for the 14 weeks to 6 October had reached GBP43m (US$87.6m), up 28.5% on the year.
Shares in Thorntons were up 8.1% on the news, reaching GBP1.86 at 12:18 UK time this afternoon (11 October).
Like-for-like sales in Thorntons’ retail outlets rose 9.6%, while franchise sales jumped 39%. Commercial sales with the UK’s retailers soared 81% to GBP13.1m.
Thorntons chief executive Mike Davies gave the results a cautious welcome, saying he was “encouraged” by the numbers.
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By GlobalData“Discounting the effect of the wet weather and the weak comparatives last year, the overall sales growth underlines solid improvements made across all sales channels,” Davies said.
