Meat and deli products retailer Crawshaw Group says that this year’s profit will be lower than expected.
Sales in recent weeks have been below expectations. Like-for-like sales are 2% below last year, while margins are also lower due to higher meat prices. It appears that customers are trading down.
Crawshaw is trying to widen its product range and is recruiting new management. This will add to costs.
Crawshaw has repaid its borrowings other than an £840,000 mortgage.
At 5.75p a share, down 1.5p, Crawshaw is valued at £3.32m.
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