Thorntons reveals profits decline

The company said December’s Arctic weather wiped £3.5m from its sales and raised the cost of manufacturing and delivering its goods by £500,000.

Thorntons, which is celebrating its 100th anniversary this year, reported that pre-tax profits declined 8.5 per cent to £8.3m in the 28 weeks to January 8 as it battled higher commodity prices, although revenues increased 4.8 per cent to £133.5m helped by strong sales to supermarkets.

Trading conditions on the high street have been “challenging” in 2011 and it warned it will close some of its 371 company-owned stores after a significant number of leases come up for renewal in coming months.