CHOCOLATE and toffee shop group Thorntons has blamed over-ambitious expansion plans for its profits becoming unstuck over the last year.

Unveiling profit figures at almost half last year's level, the group said it was "extremely disappointing" that it had failed to meet its own and its shareholders' expectations.

The figures showed the extent of the damage, with pre-tax profits for the 12 months to June 24 reduced to £5.5m from £10.5m last time.

Explaining the figures, chief executive Peter Burdon said the group had been "simply too ambitious..

"We were trying to become too big too soon, such that we struggled to increase sales and gross margin sufficiently to cover the significant increase in fixed costs," he said.

Mr Burdon added he stood by Thorntons target number of 500 shops but said "with hindsight, it was unrealistic to have aimed to achieve that target by 2001."

The situation was compounded by over-ambitious sales expectations for Easter, leading to a glut of eggs on the market which caused price slashing.

Thorntons said in order to restore profitablility, it would slow its expansion to less than 15 stores a year, and would concentrate on driving up like-for-like sales and margins and becoming more efficient.

The group said it had lost sales momentum over the last few years by lack of investment and co-ordination in its advertising, promotions, product development and customer service.

It is aiming to improve performance through an internal programme dubbed "Restoring the Magic".

It is revamping its product range and is rethinking its stores to boost sales to its core customer base, family women over 30.