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Thorntons issues profit warning

21-Dec-2011

UK-based chocolatier Thorntons has announced that profits have been hit by weakened consumer demand and strong marketing competition ahead of its final year results due next year.

“Following continued weakness in consumer sentiment and high levels of promotional activity in the market place, the Board now considers profits for its full year will fall short of current expectations,” it said it in a trading update issued today.

In its last financial year the company recorded revenues of €262.2 (£218.3m) though profit had plummeted 37.6% from €8.2m (£6.9m) in the 2010 to €5.1m (£4.3m) in 2011.

The company will issue its next trading update on 12 January 2012.

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