News: Improving sales and gross margins at Crawshaw
Crawshaw's, the Rotherham-based meat focussed retailer, has seen profit increase as they report their interim results for the six months ended July 31.
Overall sales reduced by less than 1% to £9.4m compared to £9.5m in 2009, however, sales trends improved significantly towards the end of the period.
Pre-tax profits were £233,040 compared to a loss of £43,889 over the same period last year and operating profit improved from a loss of £1,729 to a profit of £268,297. This was largely as a result of improving gross margins and careful cost control.
The Bradmarsh Business Park company was acquired by the Felix Group in March 2008 for around £12m. They operate 20 stores and have a new store planned.
Richard Rose, chairman of the Crawshaw Group said: "As previously reported, having opened seven new stores during the last two years we have gained a great deal of experience regarding the drivers of success.
"The larger format store type is proving particularly successful, not only measured by their initial performance, but also by their good continued growth. Accordingly it is this format that we are keen to roll out. A new site has recently been acquired that we plan to open as soon as possible.
"Since the half year end, sales have continued to show positive like-for-like growth and I am therefore confident about the outlook for the full year and beyond."
Crawshaw website
Overall sales reduced by less than 1% to £9.4m compared to £9.5m in 2009, however, sales trends improved significantly towards the end of the period.
Pre-tax profits were £233,040 compared to a loss of £43,889 over the same period last year and operating profit improved from a loss of £1,729 to a profit of £268,297. This was largely as a result of improving gross margins and careful cost control.
The Bradmarsh Business Park company was acquired by the Felix Group in March 2008 for around £12m. They operate 20 stores and have a new store planned.
Richard Rose, chairman of the Crawshaw Group said: "As previously reported, having opened seven new stores during the last two years we have gained a great deal of experience regarding the drivers of success.
"The larger format store type is proving particularly successful, not only measured by their initial performance, but also by their good continued growth. Accordingly it is this format that we are keen to roll out. A new site has recently been acquired that we plan to open as soon as possible.
"Since the half year end, sales have continued to show positive like-for-like growth and I am therefore confident about the outlook for the full year and beyond."
Crawshaw website
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