Thorntons chairman fattens stake

The chairman of Thorntons has spent £50,000 on shares in the chocolate retailer on the day it revealed "solid" first quarter numbers.

It was revealed today that John von Spreckelsen put his hand in his pocket Wednesday after telling the market Thorntons had a solid three months to end September.

He bought 40,000 shares at 124.4p each, taking his stake to 1.09m, or 1.6% of the company. The shares are now trading at their best in over a year.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Total sales in the 14 weeks to 3 October rose 2.3% to £46.8m, with own store sales 1.9% higher at £27.1m. Like for like sales grew 1.3%.

Things would have been even better had Birthdays Ltd, a key customer, not gone bust in May. Franchise sales fell 15.2% to £2.9m.

"We are pleased to report satisfactory trading in the first quarter...particularly as the comparative period included both Woolworths and Birthdays as customers," chief executive Mike Davies said.

Top Director Buys

Value: £873,750

Value: £51,500

Value: £49,760

Value: £23,250

Value: £19,999

Value: £19,980

Value: £19,980

Value: £12,875

Top Director Sells

Value: $301,800

Value: $301,800

Value: $301,800

Value: $301,800