19th Nov 2013 11:58
LONDON (Alliance News) - Meat retailer Crawshaw Group PLC Tuesday said sales growth has accelerated in recent weeks and gross margins continue to improve across most of its stores, sending its shares sharply higher.
In late September, the company said like-for-like sales were up 10% in the first eight weeks of the second half of the financial year. Tuesday, It said that like-for-like sales during the seven weeks since then are up 18%, and at a higher gross margin.
"This progressive improvement in our trading performance which is broadly spread across most of our retail stores gives me further encouragement for the future and I look forward to updating the market further following our very important Christmas trading period," Crawshaw Chairman Richard Rose said in a statement.
The company cited management actions to grow sales and margin, but didn't give any details.
Crawshaw shares were up 22.2% at 12.98 pence midday Tuesday, the third-biggest gainer on AIM.
By Steve McGrath; [email protected]; @stevemcgrath1
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