Confidence continues at Crawshaws after robust results
FURTHER expansion is set to be a key driver for future growth at meat retailer Crawshaw as it boosts profits and sales.
In its results for the year ended January 31 2014, the Rotherham-headquartered business reported sales for the year of £21m, up from £18.8m in the previous year. Full year like-for-like sales increased by 11%. EBITDA doubled to £1.4m and pre-tax profit came in at £1m, compared to £0.3m in 2013. Like-for-like sales for the first 12 weeks of this year are up 19%.
The Group, which has two distribution centres in Grimsby and Rotherham, opened its latest high street store in Sheffield last month, bringing its number of retail locations across Yorkshire, Lincolnshire, Nottinghamshire and Derbyshire to 21.
Chairman Richard Rose said: “I am delighted to be able to report once again on a continued trading improvement. LFL sales over the first 12 weeks of the current year are up 19% and gross margin remains strong. I am also encouraged by the initial performance at our new Sheffield store, albeit early days.
“Our customers are spending more with us and the improvements in trading performance are spread across most of our stores, giving me much confidence for the future.
“Given the general improvements in trading performance and the reduction in fit out costs the board are confident that further controlled expansion of our existing shop model will be a key driver of future growth.”
