Revenues rise at Thorntons

<p>Thorntons has posted a significant rise in its revenues.</p>

The share price of Thorntons is down this morning (March 3rd), despite the company posting a rise in its revenues in its latest financial results.

It was announced by the firm that it achieved overall sales of £139.7 million in the 28 weeks to January 11th. This was a 4.5 per cent rise on last year's results for the company.

Pre-tax profits shot up by 47.3 per cent, to £7.2 million, as the firm rolled out more of its products to supermarkets in the last 12 months.

Thorntons is now planning to expand this strategy even further and will be closing down dozens of its own shops in 2014 as a result.

Chief executive Jonathan Hart stated that the firm was "pleased" with the financial results.

He added: "Overall we continue to be encouraged with the progress which has been made in implementing our strategy of rebalancing the business."

However, the share price of the firm dipped on the back of the news. By 09:28 GMT, stocks in the chocolatier were down by 0.16 per cent on the start of the new week's trading.

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