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Thorntons

May 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • THT
  • Price:
  • 124p
Thorntons Q3 statement was a curates egg; the good element was that its Retail side delivered positive like-for-like performance in own stores (+1.2%) driven by consistent performance over the key seasons including Easter, although sales overall declined 8.8% due to 38 store closures. The less welcome news was that the FMCG business saw sales decline by 8.6% in Q3. Slower sales were seen in Feb/March and specifically over Valentines/Mother’s Day.     Despite the sharp share price fall suggesting otherwise, N+1 Singer is barely changing its forecast which is shaded by only £0.1m to £8m (eps 8.3p) for the year to end June. Next year's target remains £10.9m (11.4p). Tipped at 75.5p last September the shares have done well. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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