Crawshaw Share Discussion Threads

[davidosh] 19/11/2013 14:40

One million shares traded today and up 20% so far. Two things that are nice to see.

[phar lap] 19/11/2013 11:02

CR



Mr. Richard Sidney Rose served as the Chief Executive of Whittard of Chelsea Plc since August 2001. Mr. Rose joined Whittard of Chelsea in 2001. He served as Chief Executive Officer of WF Electrical plc from 1993 to 2000. He has been the Non-Executive Chairman of Anpario plc. He serves as Chairman of Whittard of Chelsea plc. He has been the Non-Executive Chairman of Booker Group PLC since September 1, 2006. He has been an Executive Chairman of Crawshaw Group plc since October 1, 2007 and as its Director since September 1, 2006.

[davidosh] 19/11/2013 10:49

chrisis33....Richard said last night that he expects the second new store to open in February and we have the first next week so we can presumably factor in an additional £2.5m in revenues as he thinks they should be hitting £24000 per week takings fairly quickly in fact in the early weeks they often take more than average !

Personally I am now setting my revenue target at £24m minimum for 2014 so this will be seen as a very nice growth stock and it pays dividends too !

[chrisis33] 19/11/2013 10:39

Definitely the same guy. I loved the way he set out in the results after a poor Q3 2011 that basically performance for shareholders was simply not good enough, but that there was a plan to turn things around.

This is now a 5 bagger + from my first buy

[cockneyrebel] 19/11/2013 10:35

Does anyone know if the Richard Rose here is the same one that turned Whittard of Chelsea around from near bust into a 10 bagger? He also had previous great successes too.

Not been able to find if they are one and the same.

CR

[chrisis33] 19/11/2013 10:33

Looking at the fundamentals ... and making a very broad assumption that CRAW can continue to perform 18% ahead of the previous year.

18% on around £19m turnover would be about £3.6m extra revenue from the existing store base, taking revenue performance to above £22m.

At 44% gross margin ... that's around £9.6m.

Take off admin costs at (say) £8.1m per annum, and CRAW are would be hitting and EBITDA of around £1.5m

Very rough maths without a calculator ... but this is before one factors in new stores etc, and without any increase in GM.

Ps. My slicing was due to the false assumption that performance was weather-driven. The last 7 weeks trading appear to show that it's not just down to BBQ sales only. Very exciting. I really am taken aback by today's update.

[chrisis33] 19/11/2013 10:24

Don't listen to me ... I sliced at around 8p. Rest remaining are my long-termers.

[shrout] 19/11/2013 10:00

Fantastic! Great to be a shareholder here. Well done everyone concerned. Tempted to top-slice a few at this point, but I think I'll hold on for Chris's 20p if that's where we're heading.. eventually.

[playful] 19/11/2013 09:10

Thanks for the report ottrott.

It sounds to me all very positive.

[chrisis33] 19/11/2013 08:50

Ps. Not all at once ... but in time

[chrisis33] 19/11/2013 08:49

Incredible step change in the business performance. Still trying to wrap my head around it. 20p+ to come IMO.

[battlebus2] 19/11/2013 08:46

Home Kitchen sounds like a great name to me. We are now a very forward thinking business.

[battlebus2] 19/11/2013 08:38

Thanks for those details ottrot, sounds very positive indeedy.

[ottrott] 19/11/2013 08:36

Hear are my notes from Mello last night.
These are NOT inclusive but just points that gotmy attention.
Hope they are of some use to people who could not make it.
Of course can give noguarantees that I haven't misheard some of the figures as the meeting was pretty packed.

First Richard described the business:

50% meat 50% prepared
£7000/week per store average
Source from residual supplies - surplus not needed by supermarkets.
Price can be 40% less than that paid by supermarkets
Not CUP packaged (inert gas to preserve) as in supermarkets.
Meat prepared in store so looks/tastes fresher.
Have installed CCTV, Managemt Information System in all stores.
Christmas/Feb openings both in Sheffield
£500k to open store, 4-5years to make money back.
New stores £24k/week turnover, 7000 customers.
Plan to open 2 stores a year.


The Future:

Looking into possiblity of openning a chain called "Home Kitchen".
Just sell prepared food. "Home cooked food".
Prepared centrally, shipped to store.
Working with London Chef Mark Hix. Only costs £100k to open store.
Possible to franchise.
Will trial first. National chain.
More stable as not reliant on residual supply which can vary in cost.


Random notes from Questions:

No intention to go private.
No intention to raise debt.
Average lease 15 yrs.
No store closures planned.
75% of increased turnover due to higher spend from existing customers.
No advertising, all word of mouth. Social media has little impact.
New stores typically initially have 50% more turnover than final level reached
with no advertising.

And finally:
Was very impressed by the whole presentation and have no reservations about
continuing to hold.

ottrott

[chrisis33] 19/11/2013 08:20

Simple maths... annualised, that's over 3.5m extra revenue. At the gm CRAW achieve ... transformational.

[playful] 19/11/2013 08:19

Happy Days!

[cockneyrebel] 19/11/2013 08:16

nice to get some meat on the bones - could go way higher imo.

CR

[battlebus2] 19/11/2013 08:15

LOL ,get onto it straight away :)) 13p paid again!

[chrisis33] 19/11/2013 08:14

A truly excellent update. Don't think my spreadsheet dared go as far as 18%.

[battlebus2] 19/11/2013 07:15

Trading update is out off the park!! Well done all at Crawshaws!

19(th) November, 2013

Crawshaw Group plc ("Crawshaw"), the meat focussed retailer, provides the following update on current trading.

On 26(th) September 2013 we reported our half year results and stated that like for like sales for the 8 weeks since the half year were up 10% and that we were therefore encouraged by our prospects. Crawshaw is now delighted to report that management actions to grow sales and margin continue to work, and as a result like for like sales for the 7 weeks since that time are up 18%, and at a higher gross margin.

Richard Rose, Chairman of Crawshaw, commented: "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."

[playful] 19/11/2013 07:07

Wonderful news!!! We appear to be growing sales rapidly and with Christmas just around the corner it certainly is going to be a marvellous year.

[davidosh] 19/11/2013 00:38

If Carlsburg did trading updates then they would do them like Crawshaws in the morning ! lol

Unfortunately that is not going to be too good for the 35 ish Mello attendees tonight who do not already have shares in the company but there were 15 or so who seemed pleased as punch. I think there will be plenty of buyers in a few hours time !

There was a whole team from my Share Club in Surrey that came along tonight and they went away happy because they bought shares last month and were impressed by Richard.

[chrisis33] 19/11/2013 00:22

Sounds exciting ... thanks Davidosh!!

[battlebus2] 18/11/2013 23:49

That sounds like music to my ears!! Thankyou davidosh i'll enjoy reading that news in the morning.

[davidosh] 18/11/2013 23:27

Just to let you all know that the meeting went exceptionally well and Richard gave a presentation literally without any notes and nailed it brilliantly answering all questions without hesitation and with very detailed explanations on strategy and the strengths of the operation.

Most importantly though any shareholders in Crawshaws will be waking up with a smile on their faces wider than Rotherham to Grimsby and you only need to read the news to see why ! Well done to Richard and thanks to all the staff who are generating this incredible performance.