Greggs (GRG)

Sector:

Food Pharmacy Retail

Index:

FTSE 250

2,894.00p
   
  • Change Today:
      34.00p
  • 52 Week High: 2,904.00
  • 52 Week Low: 2,282.00
  • Currency: UK Pounds
  • Shares Issued: 102.26m
  • Volume: 39,190
  • Market Cap: £2,959.28m
  • RiskGrade: 191

Greggs lifts expectations after strong festive period

By Josh White

Date: Wednesday 09 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Greggs said it had a "strong" finish to the year in its fourth quarter trading update on Wednesday, reporting total sales growth of 7.2%, with company-managed shop like-for-like sales growing by 2.9%.
The FTSE 250 retail bakery chain said that in its fourth quarter, company-managed shop like-for-like sales grew 5.2%, which the board said built on the "strong" trading performance that it reported in its November trading update.

It said that while seasonal products such as its 'Festive Bake' and freshly-baked mince pies sold well, the firm also saw further progress in growth categories such as hot drinks and breakfast.

Operational delivery was also described as "strong", benefiting from investments that the company had made in systems and in staff training.

As it entered the new year, Greggs said it was continuing to refresh its range to keep step with changing consumer tastes.

The launch of its vegan-friendly sausage roll had proved "very popular" with a broad range of customers, Greggs claimed, and could now be combined with its vegan-friendly winter vegetable soup in a meal deal.

During the year the company opened 149 new shops, including 62 franchised units, and closed 50, growing the estate to 1,953 shops trading as at 29 December - 262 of which were franchised shops operated by partners in travel and other convenience locations.

In the year ahead, Greggs said it expected net shop openings to be in the range of 90 to 100.

Looking ahead, in 2019 the board said it would continue to execute the supply chain change programme that was supporting its "ambitious" growth plans.

It explained that while there were many economic and other uncertainties hanging over the consumer environment, Greggs had entered the new year with "good" sales momentum and operational execution, a "strong" offer and a "robust" financial position.

The board said it now expected that it would deliver underlying profit before tax of at least £88m, slightly ahead of its previous guidance, when it reports its preliminary results for 2018 on 7 March.

"We delivered a very strong finish to 2018 despite the well-publicised challenges in the consumer sector," said Greggs chief executive Roger Whiteside.

"This performance was broad-based, reflecting the strength of our range of freshly-prepared food and drinks, and the strategic changes that we have made in recent years to focus more effectively on the food-on-the-go market."

Whiteside said that in the year ahead, Greggs would continue to innovate with products designed to reflect changing consumer tastes, and by opening in new locations that made the brand more accessible to customers.

"The investments that we are making in our supply chain will allow us to deliver the outstanding value and quality that Greggs is famous for across a growing shop estate."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Greggs Market Data

Currency UK Pounds
Share Price 2,894.00p
Change Today 34.00p
% Change 1.19 %
52 Week High 2,904.00
52 Week Low 2,282.00
Volume 39,190
Shares Issued 102.26m
Market Cap £2,959.28m
RiskGrade 191

Greggs Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.95% below the market average96.95% below the market average96.95% below the market average96.95% below the market average96.95% below the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Price Trend
72.91% above the market average72.91% above the market average72.91% above the market average72.91% above the market average72.91% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Income
68.69% below the market average68.69% below the market average68.69% below the market average68.69% below the market average68.69% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Growth
0.28% below the market average0.28% below the market average0.28% below the market average0.28% below the market average0.28% below the market average
69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average

What The Brokers Say

Strong Buy 5
Buy 3
Neutral 3
Sell 0
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Greggs Dividends

  Latest Previous
  Final Special
Ex-Div 25-Apr-24 25-Apr-24
Paid 24-May-24 24-May-24
Amount 46.00p 40.00p

Trades for 28-Mar-2024

Time Volume / Share Price
15:28 46 @ 2,892.40p
15:28 56 @ 2,894.00p
15:28 3 @ 2,894.00p
15:28 39 @ 2,892.00p
15:28 17 @ 2,892.00p

Greggs Key Personnel

Finance Director Richard Hutton
CEO Roisin Currie
Chair Matthew Davies

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