Crawshaw speeds up expansion plans

The Rotherham-based firm said turnover for the year to January 31 rose 51​ per cent​ to ​£37.1m with like-for-like sales ​up 2 per cent.

Adjusted earnings rose 45 per cent to £2.6m, but the group made a pre-tax loss of £300,000 as a result of its expansion plans.

It has opened 17 new stores over the year and said they are performing in line with expectations. It plans to open a further 15 stores this year, including further expansion into its Yorkshire and North West heartlands and an entry into the Midlands/Birmingham area.

CEO Noel Collett said: “We have proved that customers love our compelling retail concept, delivering quality fresh meat and food-to-go at exceptional prices.

“With strong foundations now in place, we are well positioned to build on our current position and establish Crawshaws as a national brand.”

Total group sales for the first seven weeks of the new financial year increased by 64 per cent.

Crawshaw is paying a final dividend for the year of 0.47p per share, which together with the interim dividend of 0.10p per share, takes the total dividend for the year to 0.57p per share.

“During the course of the year we have made great progress in developing and standardising our retail proposition across the entire estate,” said Mr Collett.

“This has included the successful relaunch of our fresh meat range.”