Thorntons waives dividend as profit falls

Chocolate retailer Thorntons said full year profit before tax and exceptional items fell sharply in the face of continued tough trading conditions as it omits it final dividend payment and seeks margin improvements and cost savings.

Chocolate retailer Thorntons said full year profit before tax and exceptional items fell sharply in the face of continued tough trading conditions as it omits it final dividend payment and seeks margin improvements and cost savings.

Adjusted pre-tax profit fell to £0.9m for the 53 weeks ended 30 June 2012 from £4.3m the same time a year earlier. Pre-tax losses widened to £2.21m during the period compared to £1.071m in 2011. Revenues slipped to £217.1m from £218.3m previously.

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