Sept 11 (Reuters) - British chocolatier Thorntons Plc’s full-year profit soared as margins rose and it sold more confectionery and sweet foods through supermarket chains.
Lower consumer spending in the UK have hit sales at Thorntons’ owned and franchised stores, prompting the chocolate maker to shut high-street stores and shift focus to supermarkets.
The company said it has new products and strong trading plans in place for the important Christmas season.
Adjusted pretax profit jumped to 5.6 million pounds ($8.80 million) in the year ended June 29 from 0.9 million pounds a year earlier. Revenue rose 1.8 percent to 221.1 million pounds. ()
Analysts on average expected a full-year profit of 5.12 million pounds, according to Thomson Reuters I/B/E/S.
Thorntons said sales at its Fast Moving Consumer Goods (FMCG) division rose 19 percent and that it expected the division to become its largest in the current financial year.
Shares in the Derbyshire-based company were down 1 percent at 89 pence at 0720 GMT on the London Stock Exchange.