Positive sales growth for expanded Crawshaw Group

The AIM-listed fresh meat and takeaway food retailer released the update, covering the 15 week period from its last update to the market on 29 September last year, to 3 January.

It said total group sales were up 64% over the period compared with the same time a year earlier, and were up 54% in the year to date.

Like-for-like sales for the same period were up 0.8% over the prior year, and up 1.7% in the year to date.

Crawshaw said the sales growth had been converted well, with cash gross margins increasing by 65% in the 15-week period and 55% in the year to date.

"Our growth plan is progressing very well and is on track with an increase of 17 stores for the current financial year, taking our portfolio to 39 stores", said Crawshaw chief executive officer Noel Collett.

"We are also pleased with the positive like-for-like performance in our mature stores, particularly given the disruption and challenging high street footfall patterns caused by the prolonged adverse weather conditions in the North of England", he added.

In a statement, Crawshaw's board said it anticipated the full year results for the period ending 31 January would be in line with market expectations.