Thorntons up on strong sales

Thorntons, the chocolate maker and retailer, was looking sweet again yesterday when its shares jumped 9 per cent on an upbeat trading statement.

The company, which is emerging from a troubled period, said sales had been strong in the 52 weeks to 29 June, helped by the closure of underperforming outlets.

Underlying sales in the company's 395 wholly owned outlets were up by 3.6 per cent on the previous year, the best performance since 1998. Total sales from the company's own stores was up 2.3 per cent to £134m. Franchise sales also grew 22.6 per cent to £11.3m.

Thorntons has been trying to boost sales from improved ranges in its existing stores rather than opening new branches. It is also trying to grow sales through deals with other retailers such as Tesco, for whom it makes certain chocolate bars.

The shares jumped 10p to 118p. Peter Burdon, Thorntons' chief executive, said: "These results are further evidence that Thorntons is well on the way to producing sustainable profitable growth."

Separately, Ottakar's, the high street book chain, reported strong figures. Like-for-like sales in the 24 weeks to 13 July were up 3.7 per cent.

Margins have also improved, helped by better supplier terms and a more profitable sales mix, while total group sales were up 10.9 per cent in the period.

Ottaker's said the eight stores it bought from its rival James Thin in March had been refurbished and were trading well. Its shares rose 8p at 158.5p.