News: Crawshaws has confidence to expand
Crawshaw Group PLC, the meat focused retailer based in Rotherham, has reported its audited results for the year ended 31 January, 2010.
Sales for the year increased by more than 18% to £19m from the previous year thanks to a number of store openings.
Gross profit increased by 20% to £8.2m but operating profit fell from £854,000 to £318,000, excluding exceptional items, as operating costs increased.
The 20 store group reported that it had been a difficult year for established stores with an 8% reduction in like for like sales, driven by the impact of the recession causing customers to switch into lower priced products.
Seven new stores of different types have opened since June 2008 with the new larger format stores showing an outstanding performance. As a result, the group has the confidence to start planning for further sites.
Richard Rose, chairman of Crawshaw Group PLC said: "The search has commenced and we are confident that the lessons learned over the last 18 months of new store openings will provide an excellent foundation for our future expansion plans."
The Bradmarsh Business Park company was acquired by the Felix Group in March 2008 for around £12m.
Crawshaw website
Rotherham
Sales for the year increased by more than 18% to £19m from the previous year thanks to a number of store openings.
Gross profit increased by 20% to £8.2m but operating profit fell from £854,000 to £318,000, excluding exceptional items, as operating costs increased.
The 20 store group reported that it had been a difficult year for established stores with an 8% reduction in like for like sales, driven by the impact of the recession causing customers to switch into lower priced products.
Seven new stores of different types have opened since June 2008 with the new larger format stores showing an outstanding performance. As a result, the group has the confidence to start planning for further sites.
Richard Rose, chairman of Crawshaw Group PLC said: "The search has commenced and we are confident that the lessons learned over the last 18 months of new store openings will provide an excellent foundation for our future expansion plans."
The Bradmarsh Business Park company was acquired by the Felix Group in March 2008 for around £12m.
Crawshaw website
Rotherham
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