RNS Number:2943L
Thorntons PLC
20 May 2003

                                  20 May 2003

                                 THORNTONS PLC
                                Trading Update


Thorntons PLC, the manufacturer and retailer of high quality confectionery,
toffee and other sweet special foods, is today updating the market on recent
trading.

The weakness of the retail market over Easter has been well reported,
particularly in confectionery where the exceptionally hot weather significantly
reduced sales in the week leading up to Easter Sunday. As a result, sales for
the Easter period did not meet our expectations, although all egg stocks have
since been sold through our own shops at discounted prices.

When we reported in February 2003, second half like-for-like, own shop, sales
were running at +3.6% and this level of growth was exceeded up to the last week
prior to Easter. Our performance continued to demonstrate that the increased
emphasis on product and packaging innovation, plus stronger in-store management,
was bearing fruit. In the final week, however, like-for-like sales fell, year on
year, by -7.4%. Easter, overall, currently represents around 10% of annual
sales.

We anticipated that we would be able to compensate for much of this lost income
through cost savings and higher sales post Easter. However, taking into account
the current weak retail market, the Board has concluded that the profit before
tax for the financial year ending June 2003 will not be materially different
from last year which was #7.1m.

This situation, whilst clearly disappointing given the progress we have been
making in recent years, does however provide even more evidence that the
strategic direction in which we are heading is absolutely correct. This is to
widen the availability of Thorntons branded product, through broader
distribution whilst, at the same time, strengthening our retail proposition. In
the longer term, this will reduce the seasonal and weather-sensitive nature of
the current business.

Our pursuit of this wider distribution is proceeding well and we are pleased to
report that new listings have been secured in Safeway and Morrisons as well as
additional listings in Tesco. Other retailer listings are close pending
finalisation of terms.

We will provide a further update on performance in our Sales Trading Statement
on 15th July and in our preliminary results announcement on 9th September 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


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