Butchery chain’s profits rise but sales are down

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BUTCHERY chain Crawshaw reported a 20 per cent increase in annual pre-tax profits to £1.2m, but said like-for-like sales fell four per cent over the past 10 weeks following strong sales the year before.

The Rotherham-based firm said like-for-like sales rose five per cent in the year to January 31 and total sales rose 17 per cent to £24.6m.

​​Chairman Richard Rose said: “Like-for-like sales started the year lower than last year which is in line with expectation given the exceptional growth from the comparable period last year.

​“​Each and every one of our stores were profitable during the year under review and this gives us much confidence in the scalability of our model.​”​

​He said that short-term profits ​“​will be held in check for a while”​as the group invests in the business.

Last week, the group announced the £4m acquisition of 11 butchers’ shops ​​in the North West.

Crawshaw has ambitious plans to open up to 200 stores over the next eight years, transforming it from a small regional player to a nationwide chain.