Trading Statement

RNS Number:3873G
Thorntons PLC
21 January 2003


                                                                 21 January 2003

                              SALES TRADING STATEMENT
                           28 WEEKS ENDED 11 JANUARY 2003


Thorntons PLC, the speciality retailer and manufacturer of high quality
chocolate, toffee and other sweet foods, today reports sales figures for the 28
weeks ended 11 January 2003.

* Total company sales increased by 2.3% to #104.7m in the 28 weeks.

* Own shop sales held up well and were virtually unchanged at #83.8m despite the 
  planned reduction in estate size,  from 395 shops to 390, as poorer performing 
  shops were closed.

* Own Shop like-for-like sales over the half year showed two contrasting 
  pictures. Prior to the Christmas period there had been 27 consecutive weeks of 
  growth including the first 18 weeks of the financial year when cumulative like 
  for like growth was +5.8%. The 7 weeks of Christmas trading, to Saturday 28th 
  December, were -0.9% but this was against +8.0% for the comparable period last 
  year. Overall, the half year like for like sales performance was +1.6%, with 
  an improved margin.

* Franchise sales, at #7.7m, were up 9.7% and the number of outlets increased by 
  10 to 191.

* Commercial sales grew by 7.4% to #9.8m, the first real growth in over 4 years, 
  driven by distribution of Thorntons branded impulse products through third 
  parties.

* Thorntons Gift Delivery Service (Internet and Mail Order) continues to grow 
  strongly and sales rose by 37% to #3.4m.

* Royalty income from the licensed range of cakes, puddings, biscuits and other 
  sweet food was #251,000 in the half year. This compares with #56,000 in the 
  same period last year.


Peter Burdon, Chief Executive, commented: '"The strong sales performance over
the first 18 weeks gives us confidence that our underlying business offer is
improving and provides further evidence that we are moving strongly in the right
direction in a difficult economic environment. The success we are seeing through
a widening of the brand offer and new routes to market supports this.

Christmas was tough against a strong performance last year, but I am pleased we
improved our margin levels. Interim profits, whilst within the range of our
expectations, are likely to be towards the lower end of that range. Consequently
we are a little more cautious about the company prospects for the full year but
remain optimistic given the strength of our product offer ahead of the important
Valentines Day, Mothers Day and Easter trading periods."

Thorntons plc will be announcing their Interim Results on Tuesday February 25th,
2003



For further information, please contact:

Peter Burdon - Chief Executive, Thorntons PLC                      01773 540550
Martin Allen - Finance Director, Thorntons PLC                     01773 540550
Charles Ryland / Catherine Miles - Buchanan Communications         020 7466 5000






1. Interim Sales Analysis
                                       First Half Sales         First Half Sales          Full Year Sales
                                                2002/03                  2001/02                  2001/02
                                                     #m                       #m                       #m

Own shop                                           83.8                     83.7                    134.5
Franchise                                           7.7                      7.0                     11.3
Commercial                                          9.8                      9.2                     13.8
Gift Delivery Service                               3.4                      2.5                      4.2

TOTAL                                             104.7                    102.4                    163.8



2. Comparison of 2002/2003 sales with the previous year

                                     28 weeks ending 11          28 weeks ending                Full Year
                                           January 2003          12 January 2002                  2001/02

Own shop                                             -%                     2.1%                     2.3%
Franchise                                          9.7%                    30.9%                    22.6%
Commercial                                         7.4%                  (14.9)%                   (8.5)%
Gift Delivery Service                             37.1%                   100.1%                    89.4%

TOTAL                                              2.3%                     3.0%                     3.7%


Own Shops like-for-like                            1.6%                     4.1%                     3.6%



3. Changes in the retail estate can be summarised as follows

Opening number                                      395                     400                      400

New shops                                             2                       2                        3
Resites                                               2                       1                        3
Closures                                            (9)                     (9)                     (11)
Closing number                                      390                     394                      395

Franchise shops trading                             191                     181                      181


Royalties from licensed Products                    251                      56                      189
(#000)



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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