Crawshaw Group PLC Appointment of NED & AGM Update (5480C)
June 29 2016 - 2:01AM
UK Regulatory
TIDMCRAW
RNS Number : 5480C
Crawshaw Group PLC
29 June 2016
29 June 2016
Crawshaw Group Plc
("Crawshaw" or "the Group")
Appointment of Non-Executive Director and
AGM Trading & Strategic Update
Appointment of Non-Executive Director:
Crawshaw is delighted to announce the appointment of Ken
McMeikan as a Non-Executive Director with effect from 8 July
2016.
Ken is currently Group CEO of the Brakes Group, a leading
pan-European foodservice company, a position he has held since
2013. Prior to this, Ken was Group CEO of Greggs Plc, the UK's
leading bakery food-on-the-go retailer, a position he held from
2008-2013. Additionally, Ken has a combined 18 years of senior
retail experience with both Tesco and Sainsbury's.
Chairman, Richard Rose, comments:
"We are delighted to announce today the appointment of Ken
McMeikan as a Non-Executive Director of Crawshaw. Ken brings a
wealth of foodservice, food retailing and high street experience
along with expertise in business strategy development during
periods of accelerated high street expansion and sales growth. We
are excited by Ken's appointment and look forward to him further
strengthening our senior management team during our growth
phase".
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 19 June 2016 in the current financial year:
Group sales were up 37% for the first 20 weeks of the financial
year with like-for-like sales down 1.9% for the same period. As has
been widely reported, footfall conditions on the high street and in
shopping centres were softer in March, impacted predominantly by
the structural timing of Easter, soft again in June due to the
impact of the start of the international football championships,
the adverse persistent weather and the build up to the EU
Referendum; these conditions were reflected in our own performance.
However, cash margin generated in our like-for-like trading stores
continued to perform strongly and increased by 1% for the same
period as we continue to manage the balance of sales and margin in
our like-for-like estate to optimise sustainable profitability
whilst carefully managing our growth plan.
Our new store rollout plan continues with an additional 8
trading stores already opened in the financial year to date, taking
our portfolio to 47 stores. In June we opened our first standalone
fresh meat factory shop in West Bromwich. The shop is trading well
and we expect the second standalone fresh meat factory shop to open
in the summer. During the same period, we have also planned to open
our first fresh-meat-only store on the high street, which unlocks
further opportunities to expand into smaller footprint retail
space. We have a strong pipeline of stores at various stages and
are therefore confident of meeting our target of 15 new stores for
the year. In parallel, we continue to develop our food-to-go
proposition to further showcase the quality of our fresh meat
offer.
Chief Executive Officer, Noel Collett, comments:
"We have made a good start to the year. Our trading performance
has been in line with expectations as we effectively manage the
balance of sales and margin in our like-for-like estate, and our
growth strategy continues to progress well.
In the last couple of weeks, we have seen some distorted and
suppressed footfall patterns created through the combined impacts
of the start of the international football championships, the
adverse persistent weather and the build up to the EU Referendum.
It is too early to judge if the vote to leave the EU impacts
consumer confidence in the medium term, but clearly our retail
format of quality fresh meat at value prices means we are well
placed to delight new and existing customers with our offer should
disposable income become stretched".
The Group interim results for the six months ended 31 July 2016
will be announced on 29 September 2016 when we will update the
market on current trading.
Enquiries:
Crawshaw Group plc
Noel Collett, Alan Richardson 01709 369 600
Peel Hunt LLP
Dan Webster, Adrian Trimmings, George Sellar 020 7418 8900
Disclosure under AIM rule 17, Schedule Two (g), Kennedy McMeikan
(Ken), aged 51, has held the following positions:
Current director/partner: Previous director/partner
within the last 5 years
--------------------------- -------------------------------
Brakes Group PLC Greggs plc (resigned 2013)
--------------------------- -------------------------------
Brakes Food Service Pauleys Produce Limited
NI Limited (resigned 2015)
--------------------------- -------------------------------
Brake Bros Holding I M&J Seafood Limited (resigned
Limited 2015)
--------------------------- -------------------------------
Brake Bros Holding II Wild Harvest Limited (resigned
Limited 2015)
--------------------------- -------------------------------
Brake Bros Holding III
Limited
--------------------------- -------------------------------
Brake Bros Limited
--------------------------- -------------------------------
Brake Bros Receivables
Limited
--------------------------- -------------------------------
Brake Bros Finance Limited
--------------------------- -------------------------------
Brake Bros Foodservice
Limited
--------------------------- -------------------------------
Brake Bros Foodservice
Ireland Limited
--------------------------- -------------------------------
Brake Bros Acquisition
Limited
--------------------------- -------------------------------
Cucina French Holdings
Limited
--------------------------- -------------------------------
Cucina Holdings (UK)
Limited
--------------------------- -------------------------------
Cucina Finance (UK)
Limited
--------------------------- -------------------------------
Cucina Fresh Finance
Limited
--------------------------- -------------------------------
Cucina Acquisition (UK)
Limited
--------------------------- -------------------------------
Cucina Investments (UK)
3 Limited
--------------------------- -------------------------------
Freshfayre Limited
--------------------------- -------------------------------
Fresh Direct Group Limited
--------------------------- -------------------------------
M&J Seafood Holdings
Limited
--------------------------- -------------------------------
Brake France Service
S.A.S
--------------------------- -------------------------------
Financiere Du Rohein
S.A.S
--------------------------- -------------------------------
Groupe Rault S.A.S
--------------------------- -------------------------------
Rault Lamballe S.A.S
--------------------------- -------------------------------
Rault Sud S.A.S
--------------------------- -------------------------------
Rault Distribution Caen
SARL
--------------------------- -------------------------------
Rault Vendome SARL
--------------------------- -------------------------------
Menigo Foodservice A.B
--------------------------- -------------------------------
END
This information is provided by RNS
The company news service from the London Stock Exchange
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