News: Profits up at Crawshaw Group
Crawshaw's, the Rotherham-based meat focussed retailer, has seen profit before tax increase by 194% to £0.6m for the year to January 31 2011.
The Bradmarsh Business Park company has two distribution centres in Grimsby and Rotherham, plus 20 retail locations across Yorkshire, Lincolnshire and Nottinghamshire. The group was acquired by the Felix Group in March 2008 for around £12m.
Overall sales were above the previous year at £19.1m compared to £19m in 2010. Like for like sales were down overall by 1% and were hit by the weather. This did however show an improved performance compared with an 8% fall in the previous year.
The board hope that their 15 High Street format stores will be key to the future as they produced a like for like increase of 1%. Their five market format locations, where like for like's were down 6% will be re-located as opportunities arise. Crawshaw's two new larger formats continue to show the best performance on all measures - sales per sq ft, gross margin, return on capital and contribution, and more are planned.
On the year ahead, Richard Rose, chairman at Crawshaw's said: "In recent weeks there has been evidence to suggest that the retail trading climate has become more difficult.
"Whilst footfall has held up well, customers are becoming more interested in lower priced products. This, coupled with the fact that meat prices are continuing to rise, leads us to be cautious about the outlook for the year ahead."
Crawshaw's website
The Bradmarsh Business Park company has two distribution centres in Grimsby and Rotherham, plus 20 retail locations across Yorkshire, Lincolnshire and Nottinghamshire. The group was acquired by the Felix Group in March 2008 for around £12m.
Overall sales were above the previous year at £19.1m compared to £19m in 2010. Like for like sales were down overall by 1% and were hit by the weather. This did however show an improved performance compared with an 8% fall in the previous year.
The board hope that their 15 High Street format stores will be key to the future as they produced a like for like increase of 1%. Their five market format locations, where like for like's were down 6% will be re-located as opportunities arise. Crawshaw's two new larger formats continue to show the best performance on all measures - sales per sq ft, gross margin, return on capital and contribution, and more are planned.
On the year ahead, Richard Rose, chairman at Crawshaw's said: "In recent weeks there has been evidence to suggest that the retail trading climate has become more difficult.
"Whilst footfall has held up well, customers are becoming more interested in lower priced products. This, coupled with the fact that meat prices are continuing to rise, leads us to be cautious about the outlook for the year ahead."
Crawshaw's website
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