Source - SMW
Crawshaw Group's turnover rose by   29% to £21.6m in the 26 weeks to the end of July while gross profit increased by 31% £9.8m.

Like-for-like sales  fell by 4.4% (2015: +1.0%) and  adjusted EBITDA was  £1.1m compared with £1.2m last time.

    EBITDA was  £0.3m (2015: £0.5m) and pre-tax looses rose to £0.4m from £0.1m a year ago. No interim dividend proposed (2015: 0.10 pence per share).

Chief executive Noel Collett said: "We have made considerable progress with our store expansion program over the last 18 months but are very disappointed by the recent like-for-like sales performance as some of the price and range initiatives didn't resonate with customers as we had expected.  

"We are acting quickly to restore sales momentum by returning our focus to the local value-led proposition that has proved successful in the past.  We have already re-introduced a locally driven, value-led promotion strategy which is bringing more customers in store, although these activities require short term margin investment and will therefore impact full year profit expectations".  






At 9:30am: (LON:CRAW) Crawshaw Group PLC share price was -2.38p at 33.13p



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