Crawshaw Group PLC Trading Update (1718Z)
30 Agosto 2018 - 8:00AM
UK Regulatory
TIDMCRAW
RNS Number : 1718Z
Crawshaw Group PLC
30 August 2018
30 August 2018
Crawshaw Group Plc
("Crawshaw" or the "Group")
Trading Update
Crawshaw Group Plc, the UK's leading value butcher, is today
providing the following trading update ahead of its interim results
on 26 September 2018.
Further to the AGM trading update on 27 June, the trading
performance of our high street shops continues to remain
challenging. Rising shop rents and high business rates along with
lower footfall and increased discounter competition, has directly
impacted sales and profitability as expected. Half year
like-for-like sales were -13.2% (-12.9% for the first 20 weeks).
Group sales for the first half of the year were GBP21.6m (H117:
GBP22.1m).
Due to the continued challenging trading, the Board expect the
full year Group sales to January 2019 to be flat on the previous
year and underlying operating loss of approximately GBP3m. The
Group had GBP3.3m cash at 29 July 2018 (GBP4.7m at 28 January
2018).
The new leadership team who joined the business in late May have
identified the core issues affecting the business and will announce
how it plans to rectify those issues and drive the business forward
with its interim results. The Group has maintained margin
investment in response to the continued competitive
environment.
Enquiries:
Crawshaw Group plc
Jim Viggars, Nick Taylor 01709 369 600
Citigate Dewe Rogerson
Angharad Couch 0161 914 9771
Peel Hunt LLP
Adrian Trimmings, George Sellar 020 7418 8900
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END
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