Crawshaw Group PLC AGM Statement (5677K)
June 26 2014 - 2:00AM
UK Regulatory
TIDMCRAW
RNS Number : 5677K
Crawshaw Group PLC
26 June 2014
Thursday 26(th) June 2014
Crawshaw Group Plc
AGM trading and strategic update
At our AGM today, Richard Rose will give the following trading
and strategic update:-
We continue to trade very strongly with year to date LFL sales
up 13.4%. We are delighted with this performance given LFL sales
were up 8% through May and June last year. The strong performance
is widely spread across our store portfolio and, added to this, our
reduced cost new store fit out has worked well.
The board are now working on a plan to greatly accelerate our
store roll out, and to build a National network of stores. Having
proven our retail model in the North of England we believe we are
ready to take the concept across the UK.
We will be building our resource to support this strategic move,
and intend to begin by recruiting a Chief Executive Officer with
relevant experience to lead this exciting phase of our growth and
to support Kevin Boyd who will remain our Managing Director.
As a first step we have signed a 10 year agreement for lease on
a new factory and distribution centre in Rotherham and will
consolidate our two existing sites in Grimsby and Rotherham into
this new facility. The space at the new site will give us much
additional capacity and is better located which we believe will
lead to a more productive and efficient operation. Running costs
are expected to be slightly less than our current set up, and we
will open a factory shop on the site which we expect to trade well
given the performance of our existing out of town store in
Scunthorpe.
We are extremely excited by this opportunity and look forward to
the future with great confidence.
For further information, please
contact:
Crawshaw Group PLC
Lynda Sherratt 01709 369 602
WH Ireland Limited (Nominated
Adviser)
Katy Mitchell 0161 832 2174
This information is provided by RNS
The company news service from the London Stock Exchange
END
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