Crawshaw Group PLC AGM Trading and Strategic Update (3364J)
28 June 2017 - 4:00PM
UK Regulatory
TIDMCRAW
RNS Number : 3364J
Crawshaw Group PLC
28 June 2017
28 June 2017
Crawshaw Group Plc
("Crawshaw" or "the Group")
AGM Trading and Strategic Update:
At this afternoon's AGM of Crawshaw Group Plc, the fresh meat
and food-to-go retailer, the Chief Executive Officer, Noel Collett,
will give the following trading and strategic update for the 20
weeks trading to 18 June 2017 in the current financial year:
Group sales were up 5.1% for the first 20 weeks of the financial
year with like-for-like sales down 4.5% for the same period. The
trading performance of the business continues to be stable
following the improvement in like-for-like sales from the
initiatives introduced throughout the estate.
Following the announcement of our strategic partnership with the
2Sisters Food Group, we are making good progress on the
transitional plans and operational synergies that will deliver the
expected customer and financial benefits.
As noted in our recent full year results, we have opened an
additional standalone fresh meat factory shop in Crystal Peaks
which, along with the 2 new factory shops opened in FY2017, are all
trading in line with our expectations. We plan to open a further 4
new shops of this type in the balance of the current financial year
from a strong pipeline of potential sites.
Chief Executive Officer, Noel Collett, comments:
"We are pleased with the progress we've made and the continued
level of stability achieved in the core business against the
current backdrop of industry-wide cost pressures and a challenging
consumer environment. Our new fresh meat factory shops continue to
perform well and we are further encouraged by our most recent
opening at Crystal Peaks, Sheffield. Our strategic focus for the
rest of this year will be to open 4 more fresh meat factory shops
and to ensure that we are maximising the customer and financial
benefits of the new supply partnership across the estate."
"I'd like to take this opportunity to thank our retiring
Chairman, Richard Rose, for his significant contribution to the
business during his 11 years and would like to formally welcome Jim
McCarthy to the Board as Chairman."
The Group interim results for the six months ended 30 July 2017
will be announced on 27 September 2017, when we will next update
the market on current trading.
Enquiries:
Tulchan Communications LLP
Susanna Voyle, Will Smith 0207 353 4200
Crawshaw Group plc
Noel Collett, Alan Richardson 01709 369 600
Peel Hunt LLP
Dan Webster, Adrian Trimmings, George Sellar 0207 418 8900
END
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