Who are we?

Our operating company, Crawshaw Butchers, currently has 20 retail outlets and two distribution centres across Yorkshire, Humberside, Nottinghamshire and Lincolnshire.

In line with our growth strategy we have now successfully launched eight new shops in Retford, Castleford, Chesterfield, Mansfield, Huddersfield, Doncaster, Bramley and more recently, Derby.

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Crawshaws Fundamentals (CRAW)

Looking very good for the future. :o)

I know they make dammed good pies but the P/E ratio is looking way too topy now after this rise today......

NAV per share 5.7p!!!!!!!!!!!!!!!!!!!!!!

INVESTMENT RATIOS
2014 (A) 2015 (E) 2016 (E)

EBITDA £1.38m £1.80m £1.90m
EBIT £1.00m £m £m
Dividend Yield 0.56% 1.16% 1.36%
Dividend Cover 4.58x 3.00x 2.71x
PER 38.75x 28.61x 27.10x
PEG 0.11f 0.81f 4.88f
Net Asset Value PS 5.69p 19.30p 21.60p

Yes, it does look a little overdone GF but I suspect this is now been driven purely on potential and that the NAV at January year end will become largely irrelevant. This is no longer a pie in the sky company, hopefully it won't be long before it becomes a pie near me company! :o)

LOL he he, needs a slice of reality.

On a serious note not sure wether you can compare it with Greggs but their comparable figures are........

INVESTMENT RATIOS
2013 (A) 2014 (E) 2015 (E)

EBITDA £78.05m £80.16m £83.42m
EBIT £44.66m £m £m
Dividend Yield 3.74% 3.74% 3.74%
Dividend Cover 1.74x 1.70x 1.78x
PER 15.40x 15.68x 15.05x
PEG -1.52f -8.52f 3.58f
Net Asset Value PS 221.20p 237.90p 253.60p

Result of AGM

Result of Annual General Meeting

At today's Annual General Meeting of Crawshaw Group Plc, all ordinary and special business resolutions were duly passed.

Well done all. :-))

GF - from which site do you get the format of figures in your post 73?

Hi Skinny, first of all well done I think your a holder. Up 8% plus today so far.

Was going to put a short on but went out last night on the mixture and forgot this morning.

Here we are updated in real time, Times online/Hemscott

Crawshaw Group PLC

FORECASTS

2015 2016
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
W H Ireland Ltd
28-04-14 BUY 1.30 1.80 0.60 1.40 1.90 0.70

2015 2016
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 1.30 1.80 0.60 1.40 1.90 0.70
1 Month Change 0.00 0.00 0.00 0.00 0.00 0.00
3 Month Change 0.20 0.40 0.20 0.00 0.00 0.00

GROWTH
2014 (A) 2015 (E) 2016 (E)
Norm. EPS 345.06% 35.43% 5.56%
DPS % 106.90% 16.67%

INVESTMENT RATIOS
2014 (A) 2015 (E) 2016 (E)

EBITDA £1.38m £1.80m £1.90m
EBIT £1.00m £m £m
Dividend Yield 0.46% 0.95% 1.11%
Dividend Cover 4.58x 3.00x 2.71x
PER 47.59x 35.14x 33.29x
PEG 0.14f 0.99f 5.99f
Net Asset Value PS 5.69p 19.30p 21.60p

P/E now 47.6.....................!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Is this a tech stock in disguise.

I think they do chips.

Thanks GF - 14 bob on the offer!

he he.

Conditional Placing and Notice of General Meeting

The Company is pleased to announce two conditional placings, through WH Ireland Limited, to raise gross proceeds of approximately £8,820,000 from the issue of 20,999,994 new ordinary shares of 5p each ("Ordinary Shares") at a price of 42p per share (the "Placing Shares").

The issue of the Placing Shares is conditional, amongst other things, on the passing of the Resolutions byShareholders at the General Meeting, which is being convened for 10.00 a.m. on Tuesday 22 July 2014 at Bradmarsh Business Park, Bow Bridge Close, Rotherham, South Yorkshire S60 1BY, to authorise the Directors to allot the Placing Shares for cash on a non pre-emptive basis.

If the Resolutions are passed, 6,547,616 Ordinary Shares, being the First Placing Shares, will be allotted immediately after the General Meeting and 14,452,378 Ordinary Shares, being the Second Placing Shares, will be allotted on 23 July 2014. Admission of the First Placing Shares is expected to occur no later than 8.00am on 28 July 2014, or such later time/and or date as WH Ireland and/or the Company may agree and admission of the Second Placing Shares is expected to occur no later than 8.00am on 29 July 2014, or such later time/and or date as WH Ireland and/or the Company may agree.

Background and Rationale for the Placing and Proposed Use of Proceeds
As announced on 26 June 2014, the Board is focussed on growing the Crawshaw business through identifying new profitable store locations and investing resources in a structured expansion programme, whilst ensuring the core business continues to deliver quality products and excellent customer service at competitive prices.

The plan is to accelerate our store opening programme throughout 2015 and beyond with a view to having an estate of 200 shops within 8 years. We are currently investing in a new processing and distribution centre in Rotherham to support the expansion. We expect the centre to be operational in the 4th Quarter of this year and that it will have capacity to service 60 locations.

This new facility is ideally placed just off the M1 and will be used to service the initial new locations as it has the potential to cover areas such as the North West, the Midlands and the North East.

We have been opening varying sized stores in different locations over the last 5 years. We have learned a number of lessons and believe our new store model, with fit out costs below £250k, is the basis of a profitable roll out plan.

We intend to begin by recruiting a Chief Executive Officer with relevant experience to lead this exciting phase of our growth and to support Kevin Boyd who will remain our Managing Director.

We also believe that further investment will be required in a robust HR resource and to set up a in-house training and development centre to ensure that staff in each new store have the skills required to maintain the service and quality our customers expect.

The gross proceeds from the fundraising are to be used essentially to support the new store fit out, the further development of IT and logistics infrastructure and for working capital.


Principal Terms of the Placing
The Placing Agreement is conditional upon, inter alia, Resolutions 1 and 2 being duly passed at the General Meeting and First Admission becoming effective by no later than 8.00 a.m. on 28 July 2014 (or such later time and/or date as the Company and W H Ireland may agree, being not later than 30 August 2014) and Second Admission becoming effective by no later than 8.00 a.m. on 29 July 2014 (or such later time and/or date as the Company and W H Ireland may agree, being not later than 30 August 2014). If any of the conditions are not satisfied the Placing Shares will not be issued and all monies received from the placees will be returned to them (at the placees risk and without interest) as soon as possible thereafter.

The Placing Agreement contains warranties from the Company in favour of W H Ireland in relation to, inter alia, the accuracy of the information in this document and other matters relating to the Company and its business. In addition the Company has agreed to indemnify W H Ireland in relation to certain liabilities it may incur in relation to the Placing. W H Ireland has the right to terminate the Placing Agreement in certain circumstances prior to Admission, in particular, in the event of a breach of the warranties that W H Ireland in its absolute discretion determines to be material in the context of the Placing.

The Placing Shares will be issued free of all liens charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the issued Ordinary Shares in the capital of the Company including the right to receive all dividends and other distributions declared, made or paid after the date of their issue.

General Meeting
A document containing a notice convening a General Meeting to be held at 10.00 a.m. on 22 July 2014 at Bradmarsh Business Park, Bow Bridge Close, Rotherham, South Yorkshire, S60 1 BY, together with a Form of Proxy, has been dispatched to our shareholders today. The business of the General Meeting is to propose the Resolutions. The Resolutions to be proposed at the General Meeting are as follows:

Resolution 1 is an ordinary resolution to authorise the Directors to allot the Placing Shares, with such authority to expire three months following the passing of the resolution; and

Resolution 2 is a special resolution to dis-apply Shareholders' statutory pre-emption rights (which require a company to offer new shares for cash first to existing shareholders in proportion to their holdings) in relation to the allotment of the Placing Shares, with such authority to expire three months following the passing of the resolution.

Copies of the circular will also be available from today, from the Company's website www.crawshawbutchers.com.

I am not generally a fan of companies who offer shares to institutions rather than ordinary shareholders especially at a price significantly below the present sp, though I do see the logic behind it. However I am not too unhappy about this one, I like the way the company is operating, though I would not want to see it growing too rapidly. I thought maybe the sp would have declined a bit more than it has; looks like the fan base may be growing! Pass me another piece of pie please!

Kim - I don't think the price is that outrageous - it only takes us back to the (then) mid June highs - I agree about the institutions though.

Yes I suppose it depends when the placing was first offered, it would be nice if it was when the sp was 40p, it has risen quickly!

Result of General Meeting & Completion of Placing.

Arrowgrass Master Fund Ltd > 10% (13.59%)

Schroders < 5%

Interim Results 6 months to 31 July 2014

Highlights
· Like for Like (LFL) sales up 12% in the 6 months to the end of July (2013: +5%). Overall sales have increased to £11.8m (2013: £9.8m).
· Gross profit increased 21% to £5.2m (2013: £4.3m). Gross margin up at 44.1% (2013: 43.9%).
· EBITDA significantly improved at £0.9m (2013: £0.5m).
· PBT more than doubled at £0.7m (2013: £0.3m)
· Earnings per share up to 0.874p (2013: 0.473p)

Schroders > 5%