Ferrero UK has posted a full-year pre-tax profit increase of £15.8m, up from £10.8m in 2022.
The business saw sales hit £557.5m for the year ending 31 August 2023, up from £473.4m the previous year.
The positives figures come despite Thornton – which is owned by the confectionery manufacturer alongside other brands, such as Ferrero Rocher, Nutella, Kinder Surprise and Tic Tacs – publishing a dip in sales of £65.9m in the full year, down from £76.5m in 2022.
However, the chocolate brand, which was acquired by Ferrero in 2015, did still report a pre-tax profits rise of £2.6m from £1.8m.
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The company said that its increase in sales came from “higher volumes sold coupled with a stronger product mix and the integration of Eat Natural products”.
It added: “Financial year 2022/2023, like its predecessor, saw challenges for all industries and businesses due to the ongoing inflationary environment impacting the overall cost base.
“Nonetheless, the company was able to deliver positive results by partially absorbing the higher costs rather than passing them fully to the consumers.”
Earlier this year, global company Ferrero Group posted similarly positive result, as it sales climbed 20.7% to hit £14.5bn (€17bn) in the full year.
The results come amid Ferrero Group purchasing Eat Natural in 2020 as its CEO Lapo Civiletti at the time announcing the deal would allow Ferrero to be present in the healthier snack market, ” fulfilling the evolving needs and trends of consumers”.
