Tuesday, June 25, 2013

News: Pleasing progress for Crawshaw


Crawshaw, the Rotherham-based meat-focused retailer, has seen its performance strengthen further.

In its financial results for the year ended January 31 2013, the Bradmarsh Business Park company saw overall sales for the year of £18.8m, slightly down from the previous years figure of £18.9m but said that this was due to the planned scale back of less profitable sales channels.

Like for like sales were up 3% following the disappointing dip last year, which meant that EBITDA (earnings) went up by 15% at £0.7m and profit before tax came in at £0.3m compared to a nil figure in 2012.

The positive results meant that the board proposed a maiden dividend of 0.2 pence per share.

Since then, improvements in trading continued over the first 12 weeks of the current year with like for like sales ahead. The board were pleased with the further increases in gross margin and improvements in cost.

At the company's AGM this week Richard Rose, chairman of Crawshaw Group updated the board on trading, saying: "At the end of April this year I stated that I was encouraged by trading over the first 12 weeks of the current year. I'm delighted to report that since then our performance has strengthened further and that I'm particularly pleased with the progress being made for the current year thus far."

Following the AGM, Mark Naughton-Rumbo, non-executive director of Crawshaw Group acquired 104,456 of ordinary shares in the AIM-listed company.

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 20 retail outlets throughout Yorkshire, Lincolnshire, Nottinghamshire and Humberside and two distribution centres, in Rotherham and Grimsby.

Craswhaw Group website

Images: Craswhaw Group


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