23 Jun 2015 07:00
Tuesday 23 June 2015
Crawshaw Group Plc
AGM trading and strategic update
At this afternoon's AGM of Crawshaw Group PLC, the fresh meat and food to go retailer, the Chairman, Richard Rose, will give the following trading and strategic update:
In the 8 weeks since my last statement on the 23rd April, LFL sales for the extended group are up 2.3%, building further on the increase of 6.4% achieved over the same period last year. This strong trading performance is spread across our combined store portfolio and we have seen positive growth in both customer numbers and average spend.
The initial integration of Gabbotts Farm Ltd has been very smooth and we are well underway with developing the customer proposition in all stores. The post-integration initiatives have enhanced our sales and profitability, and we will continue with the operational synergies and extension of the supply chain network.
Our growth plan is progressing very well and is on track. We have recently opened a new store in Leeds, the Bolton store will open in July, and a further 4 stores are planned to open before Christmas. This growth, including the Gabbotts Farm acquisition, represents an increase of 17 stores for the financial year and will take our portfolio to 39 stores.
Richard Rose, Chairman of Crawshaw, commented: "Our sales, customer numbers and average spend continue to increase reflecting the excellent quality and value we offer. Under the leadership of our new CEO Noel Collett, the board continue to build and develop the resource, infrastructure and initiatives to grow sales within the existing estate and deliver the roll out strategy in a controlled and disciplined manner. It is a very exciting time for the business and we look to the future with great confidence."
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