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Creightons upgrades to meet continuing growth

By BFN News | 01:03 PM | Thursday 14 August, 2014


Creightons has started a process of upgrading and rationalisation as its continued sales growth begins to challenge its present capacity and systems. Creightons says this investment will provide the resources to meet the demands of continuing growth which is in line with its long term goals. It says: "Whilst this has had what we believe is a temporarily adverse effect on gross margins and operating profit, the group's financial position has still improved since the last published balance sheet (31 March 2014) due to the receipt of funds from the disposal of the Group's interests in Twisted Sista announced on 27 May 2014. "The group also invested in extra marketing activity in the first quarter focused on new higher-value products which it is anticipated will improve sales later this year and into next year. "Whilst it cannot be certain at this stage that this investment will inevitably carry forward into improved earnings in the full year, the board sees such investment in additional capacity, improved systems and focus on higher-margin products for our customers and consumers as necessary for sustained growth in both sales and profits." The group's interim results for the period 1 April to 30 September will be issued on or before 30 November. At 1:03pm: (LON:CRL) Creightons PLC share price was +0.25p at 5.25p Story provided by StockMarketWire.com

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