Select launch holds back Thorntons
Wednesday 10 March 1993
At pounds 7m, they were lower than the City had hoped for and the shares fell 10p to 200p. Operating profits in the six months to 9 January were up pounds 100,000 at pounds 7.7m.
John Thornton, chairman, said: 'It's fair to say the costs were a bit higher than expected, but they've all gone through this year. Select is an investment for the future of the business.'
Select contributes between 6 and 8 per cent of Thorntons' total sales, but is, as yet, available in only half its 442 UK shops.
Thorntons' turnover rose by 9.6 per cent to pounds 39.3m, as 30 new shops opened. Christmas sales were up by 8 per cent. Sales in France, where two new shops were opened, grew by 3.9 per cent.
Mr Thornton said retail sales during January and February were mixed although Valentine's Day showed good volume growth.
Interest charges rose from pounds 478,000 to pounds 650,000, largely due to currency hedging.
Earnings per share fell to 7.38p from 7.53p last time. The interim dividend is unchanged at 1.25p.
- 1 Stephen Fry explains what he would say if he was 'confronted by God'
- 2 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 4 Ball pool for adults opens in London
- 5 Rashida Jones speaks out against male-centric porn saying 'women should have sex and feel good about it'
Stephen Fry explains what he would say if he was 'confronted by God'
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
Hard line on immigration could cost Tories the election
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...