Could we begin with an overview of Thorntons PLC?
Mr. Burdon: Thorntons was established in 1911 by a traveling confectionery salesman who decided it would be a good idea to have his own shop as well. He got his elder son to run it and died not many years after that. His two sons really developed the business and by the 1960s they had about 200 stores, mainly in the Midlands, the North and Scotland. Then the third generation started taking over and in 1988 the family decided they would like to float the company. So, they floated 25% of the business. Today the family owns about 1/3 of the business so they have sold down their interest. But, to all intents and purposes we are now a full PLC, with no family involvement, although John Thornton is our Chairman. Our core products have always been chocolates, toffee, fudge and hard-boiled sweets. We are probably the only real broad specialists in confectionery in the UK. There are others but they do not have the number of outlets that we have. TWST: How many outlets do you have now? Mr. Burdo
