CHOCOLATIER Thorntons expects to exceed profit targets after enjoying solid Easter sales.

The company said chocolate egg sales, coupled with an encouraging Christmas period and satisfactory successes over Valentine's Day and Mother's Day, could propel it ahead of expected £3.1m yearly profit before tax results.

However, the confectioner, which owns 317 stores across the UK, including outlets in Darlington, Stockton and Durham, said it remained cautious of the unstable economy and its impact on reducing customer spending.

The warning comes after the company yesterday revealed its half-year report, for the period ending January 12, 2013, which showed revenue had increased to £133.7m from £130m during the same 28-week period in 2012.

The report also showed Thorntons, which has a franchised estate of 189 stores in fellow High Street outlets, saw profits after tax rise from £2.7m to £4m, though net debt had risen to £17.5m.

It said sales in its own stores had reduced by eight per cent to £62.6m, mainly as a result of store closures, with like-for-like sales dropping by 1.5 per cent, and franchise sales declining by 25 per cent to £5m.

Online sales through its Thorntons Direct arm suffered disappointing results, with sales falling nearly 12 per cent to £5.9m from £6.7m.

The company, which saved £700,000 last year after closing 13 of its stores, said it expects to close about 40 more stores during the financial year.

Jonathan Hart, chief executive, said: “Despite an encouraging performance during the first half of the financial year, we recognise this as a single and important step in a journey that will still take several years.

“The period saw further successful product innovation as we continued to revitalise the Thorntons brand and launched new boxed chocolates aimed at the everyday market and our first advent calendar for adults.

“The broader economic environment has remained challenging and we anticipate 2013 will present more of the same in terms of weak consumer activity.

“We have planned cautiously for our own stores and franchise channels, but anticipate further growth in sales and market and have a strong order book to support this.

“Restoring profitability is our core commitment and we are confident we have the right plans to deliver this.”