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Thorntons profits dip.
Thorntons has reported reduced pre-tax profits of £6.1m for the year to 26 June 2010.
The group, which issued a profit warning earlier this year, said it expects market conditions to remain tough. Pre-tax profit fell by 2.4% to £6.1m in the year ended 26 June 2010. Revenues remained flat at £214.6m.
Chairman John von Spreckelsen says: "The key challenge for the business continues to be the Own Stores channel, which experienced a decline in sales, particularly in the second half of the financial year.
"Since the year-end, trading in what is traditionally a quieter period has been in line with our expectations.
"Looking ahead we expect market conditions to remain tough. Thorntons has entered the new financial year as a leaner business, but also with a good indicative order level from our Commercial customers and various initiatives to recover Own Store trading; and this puts the Company in a stronger position to face the challenges ahead."
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