Thorntons boosted by cheaper chocolates

Thorntons has revealed increased profits after it introduced new, cheaper products and cut a number of stores.

Thorntons has revealed increased profits after it introduced new, cheaper products and cut a number of stores.

Full-year profits rose to £7.1 million sterling from £6.1 million a year earlier. Turnover rose 2.4 per cent to £163.8 million from £159.9 million.

The company has switched its efforts to new products, such as cheaper chocolate bars, from store expansion. It is also trying to sell more chocolate outside traditional occasions such as Easter.

Last year, Thorntons trimmed its store numbers to 395 from 400.

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The interim dividend was unchanged at 6.84 pence.

The company's "own shop" like-for-like sales were up 3.6 per cent in the year - the first full-year increase in three years - and this accelerated in the first nine weeks of the current year to a rise of 6.8 per cent .