Share price drops 15% at Crawshaw

Shares fell 15.7% yesterday at Crawshaw on the back of slowing sales and widened pre-tax losses, despite the announcement of a major 2 Sisters partnership and investment.

Shares closed at 25.5p, a decrease of 4.5p from opening.

The fresh meat processor yesterday posted a revenue increase of 19% to £44.2m for the year to 29 January 2017, up from £37.1m the year before driven by its store expansion programme, however this was a slowdown on previous years.

Like-for-like sales in the third quarter fell 13.0%, and 7.4% in Q4. This had improved by the first 10 weeks of the 2018 full year, declining 4.5%.

It warned last year that full year sales for 2016 would be down, following a “disappointing” half year performance.

Losses also increased from £344,000 to £1.4m

The news comes despite 2 Sisters entrepreneur Ranjit Boparan announcing plans to invest £5.1m for a 29.9% stake in the Rotherham-based business. He has the option to to acquire a further 20.1% of the business.

Click here to sign up to receive our new South West business news...
Close