Meat and deli products retailer Crawshaw Group says like-for-like sales have slumped 12% in recent weeks.
Like-for-like sales were down 3% in the six months to July 2009. This means that Crawshaw will not achieve the previously forecast profit of £720,000 for the year to January 2010.
Crawshaw blames reduced consumer confidence, fewer shoppers, high prices and poor weather. Gross margins have come under pressure but they have recovered. Even so, management says the company is still profitable and cash generative.
At 16.5p a share, Crawshaw is valued at £9.54m.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.