Thursday, January 8, 2015

News: Crawshaw reports on Christmas trading

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Crawshaws, the meat focused retailer has reported a great start for its new factory shop at its new site in Rotherham.

The AIM-listed firm recently moved onto Sandbeck Industrial Estate at Hellaby, occupying a 12,000 sq ft unit for the manufacture and distribution of specialist foods, utilising the existing facilities that were previously occupied by Buxton Foods.

The new factory and distribution centre in Rotherham consolidates the two existing sites in Grimsby and Rotherham into the new facility. Crawshaw believe that the space at the new site will give it additional capacity and is better located, leading to a more productive and efficient operation. The new site will provide Crawshaw with capacity to cater for 60 retail locations and also includes a factory shop.

Established in 1954, the firm has been trading on the stock market since 2004. It was acquired by Felix Group plc in 2008. It has 21 retail outlets throughout Yorkshire, Lincolnshire, Nottinghamshire and Humberside.

In an update to the stock exchange, Crawshaw reported that trading for the nine weeks to December 28 was in line with management expectations. Like for like sales for the period were down 3%, but the company had budgeted for this small decrease given that sales for the comparable period last year were particularly strong, rising by 21%.

Gross margin in the period has showed a further improvement of 1% over the prior year and therefore the Company's cash margin has increased year on year. Year to date like for like sales are up 6%.

Richard Rose, chairman of Crawshaw, said: "Our customers continue to appreciate our quality and value and so customer satisfaction remains high. Our new factory shop has got off to a great start and is trading above expectation giving us much confidence as we plan our accelerated store opening program.

Crawshaw recently appointed Noel Collett, formerly Lidl's chief operating officer for the UK business, as the chief executive officer as it heads towards its ambitious target of 200 shops within eight years. Last year it announced details of the placing of new shares in a bid to raise nearly £9m to support the acceleration of its store opening programme.

The company has also appointed Peel Hunt LLP as corporate finance advisers.

Crawshaw website

Images: Crawshaw

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