Crawshaw back in profits

Meat focussed retailer Crawshaw returned to profits for the year as exceptional items were not as large as last year.The group also said the current financial year has started well with operating profit for the first 2 months of the year "significantly ahead" of the equivalent period last year.Pre-tax profit for the year to January was £193,430 against the loss of £845,700 the previous year, which was hit by the £1.3m exceptional charge. Exceptionals were only £86,000 this year.Total sales increased by over 18% to £19m thanks to the full year impact of 5 stores opening between July 2008 and January 2009.It has however been a tougher year for the group's established stores, which saw an 8% reduction in like for like sales. "The current financial year has started much more positively. Year to date trading, for both existing and new stores, for the 12 weeks to 25th April 2010 is ahead of budget, and with a rather higher gross margin than the start of last year, " said the group.